Bangladesh Economic Zones Authority (BEZA) has received investment proposals worth about Tk 2077 crore for constructing Sabrang Tourism Park, the country's first tourism-based special economic zone (SEZ).

The BEZA have selected 12 local and foreign companies’ proposals for constructing modern and international standard tourism park at Sabrang in Cox’s Bazar, a senior official of the BEZA told the Bangladesh Post on Wednesday.

The BEZA is now developing the Sabrang beach area for constructing the special economic zone, he added.

The BEZA has received investment proposals from many companies, he said, adding that after reviewing these, the executive board of BEZA has approved the proposals earlier submitted by the (12) companies. There are two foreign companies out of the 12 companies.

The companies will build hotels, motels, and resorts in this park, he mentioned.

About the matter, Paban Chowdhury, executive chairman of BEZA, said, “They are developing the tourism park to make it more eco friendly for the foreign tourists.”

The BEZA has already constricted embankment and sluice gate, he said adding that the investors will get their land for construction in 2021.

“The local and foreign businesses have got approval from the BEZA for developing hotels, resorts and other required structures in the SEZ,” he mentioned. The tourism park will attract more local and foreign tourists, Chowdhury expects.

According to their proposal, about $240 million or Tk 2,077 crore will be invested at the site.

According to BEZA, infrastructure is being constructed in the 1,046-acre park with state-of-the-art facilities to make it attractive to international and well as local tourists.

Twelve companies will construct various infrastructures on 118 acres of land at the beach. It is expected that around 10,000 people will get employment opportunities during and after the construction of the park structures.

Singapore’s Inter Asia Group will invest $90 million in 83 acres of hotels, motels, and resorts. It will employ about 6,000 people. The Lizard Sports B.V. of the Netherlands would also build hotels, motels, and resorts.

Apart from this, local companies like White Orchid Guest House, Moonlight Overseas, BCS Multipurpose Welfare Co-operation Society, Data Soft System BD, and Project Promo, Knit Plus, Biotech Printing Plus, Ifad Autos, Ifad Motors and The Cox Today have got the approval.

Bangladeshi company Development Design Consultants and Korean Consultancy Firm Dohuya are jointly working to formulate draft of the master plan.

Moonlight Overseas will construct a hotel on one acre of land in the park at a cost of $7.8 million, creating job for 936 people.

However, Sabrang is located 80 kilometers away from Cox’s Bazar district town in the country’s southernmost sub-district of Teknaf. It is half an hour sea cruise distance from Saint Martin Island.

Sabrang Tourism Park will become a connecting point of other tourism attractions in Cox's Bazar and the neighbouring areas. It will give preference to preserve biodiversity, and promote local culture and tradition.