Ifad Autos to get 30 acres in economic zone for business expansion
The BEPZA will rent the land to the company on lease for 50 years.
The commercial vehicle assembler and distributor Ifad Autos Limited will get 30 acres of land in Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN), the country's largest green economic zone in Mirsarai, Sitakundu and Sonagazi areas of Chattogram and Feni.
The company will use the land for its business expansion.
Ifad Autos will disclose details the deal is finalised with the Bangladesh Economic Zone Authority (BEPZA).
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The BEPZA will rent the land to the company on lease for 50 years.
Ifad listed with the stock exchanges in 2015. Its share price rose by 0.19% to reach Tk53.90 on Thursday at the Dhaka Stock Exchange.
Ifad Autos is the assembler and distributor of Ashok Leyland vehicles. They are also local partners of the multinational base oil company, Gulf Oil Bangladesh.
