Finally, China Harbor Engineering Company Limited, a Chinese state-owned company, has given the green signal to start development work in the Chinese Economic and Industrial Zone (CEIZ) in Anwara, Chittagong, after a long hiatus of five years.
During Prime Minister Sheikh Hasina's visit to Beijing in 2014, the first Chinese authority proposed the zone. It was later approved by the Executive Committee of the National Economic Council of China. The Bangladesh Economic Zone Authority (BEZA) and China Harbor Engineering Company Limited then proceeded to implement the project.
China Harbor Engineering Company Limited agreed to invest 100 million in the project. And the Bangladesh government allocated 50 million dollars. No further progress has been made since then. Development work on the project was halted even earlier this month.
China Harbor wrote a letter to Beja earlier this month. The letter called for the signing of an agreement to invest in the project. The Chinese-invested company will have a 70 per cent stake in the joint venture. The government will have the remaining 30 percent stake.
The 600-hectare Chinese economic and industrial zone in Anwara upazila of Chittagong is located near the Chittagong seaport, which is the largest seaport in Bangladesh.
It is well connected to the railway station as well as the national highway. At the same time, the Karnafuli tunnel will significantly reduce travel time between the Chinese economic and industrial zone and the port of Chittagong.
Chittagong's Shah Amanat International Airport is also just 20 km away from this economic zone. Such a major and infrastructurally viable economic zone has been given to China so that Chinese investment companies can successfully manage it.
The Karnafuli Tunnel to be built on the Karnafuli River is the first underwater tunnel in Bangladesh, connecting the north and south of the district and will forever change the interior of Chittagong. China is investing 600 million in the construction of the tunnel. The rest of the money will be spent by the Bangladesh government.