February 6: The Special Economic Zone Authority (SEZA) is preparing to invite industrialists to submit proposals for the operation of the Special Economic Zone (SEZ) in Bara. Investment worth Rs 3 billion has already been poured into the Simara-based Special Economic Zone while the authority has already set up 68 plots of land for the operation of  industries.

SEZA is urging the industrialists to start their business within a month and open all kinds of industries in Simara SEZ. The SEZ is especially targeting garment industries. 

SEZA is preparing to operate Simara SEZ at a time when the country’s first Special Economic Zone in Bhairahawa is not fully operational. SEZA's Executive Director Chandika Prasad Bhatta said that the construction of infrastructure in Simara SEZ has reached the final stage.

Other infrastructures related to the SEZ such as sewerage, water, road construction have been completed, and now necessary work is ongoing for internal electrification. He said that 15 MW of electricity is needed immediately for the SEZ.

Service and administrative buildings have also been constructed in Simara SEZ. Bhatta said that the Simara SEZ would be fully operational soon.

SEZA is also preparing to demand project work from the industrialists and businessmen who are proposing to set up industries in Simara SEZ. "We are discussing the provision of project loan for the project," Bhatt said.

This provision would allow the bank to take over the assets of the industry and invite other industrialists and businessmen who are willing to operate the industry if the industrialists operating the industry in the SEZ are unable to repay the loan and default.

If the industrialists are not able to operate the industry, it will create an environment for another industrialist to enter the SEZ and the industry will continue to operate in the SEZ. Bhatta said that even though there are five blocks in Simara SEZ, Block A will be operated first, and other industries from the private sector will be allowed to operate another block. Block A of Simara SEZ is spread over 814 acres of land. 

The government has announced 14 SEZs across the country, including one each in all seven provinces, to promote exports and reduce the trade deficit and create employment in the country. So far, Bhairahawa SEZ has come into operation while Simara is on its way.