China is developing a 750-acre industrial park in Bangladesh which will largely be used by Chinese manufacturing firms, a Chinese official said on Wednesday, part of its push to expand links with South Asia and beyond.
State-run China Harbour Engineering Company will hold a 70% share in a joint venture being formed for the park with the Bangladesh Special Economic Zone Authority, Li Guangjun, economic and commercial counsellor at the Chinese embassy in Dhaka, said.
China is investing billions of dollars in building ports, power stations and roads in Sri Lanka, Bangladesh, Nepal and Pakistan as part of its Belt and Road Initiative. The industrial park will be in Bangladesh’s main port city of Chittagong and will take five years to become fully operational.
