In the first meeting of the Executive Committee of the National Economic Council (Ecnec) in the new fiscal year, five big projects involving around Tk700 crore which will come from internal source were given approval. Of the five projects that got nod from Ecnec, a proposal to set up a textile engineering institute in Sirajganj at a cost of Tk 87.46 crore was approved by Ecnec.

It is aiming to produce mid-level efficient technologists for the textile sector. When the new textile institute will be set up, 180 fresh textile technologists would graduate from there.

There are 120 textile institutes in the country, which will produce 22,800 textile technologists in the current fiscal year against a demand for 36,498.

Ecnec approved to build various types of water vessels for the Bangladesh Coast Guard at a cost of Tk 445 crore. Under the project, 13 water vessels will be procured, which include two inshore patrol vessels and 10 high-speed boats.

Besides, a Tk 52.71 crore project has been taken for expansion of infrastructure facilities at district head quarters and battalion headquarters of Ansar and VDP barracks.

The Ecnec meeting also revised two projects, which include setting up of the BSCIC industrial city at Bhairab at a revised cost of Tk 72.91 crore, which was Tk 58.4 crore in the original layout. The project is scheduled to be completed by June 2017.

The cost of expansion and renovation of the Cloth Processing Centre at Madhabdi in Narsingdi district has been increased to Tk 41.58 crore from original estimate of Tk 32.32 crore.