Chinese company to invest $109m in Bepza Economic Zone

Last Updated on June 25, 2024 7:22 pm

Chinese company Alpen Banyan Garments BD Co Ltd will invest $108.99 million in the Bangladesh Export Processing Zones Authority (Bepza) Economic Zone.

An agreement to this effect was signed in Dhaka on Tuesday (25 June), according to a news release.

Under the deal, the company will set up a garment manufacturing factory in 90 thousand square metres of land where 43 million pieces of woven and knit garments will be produced annually. The company will create employment opportunities for 11,995 Bangladeshi nationals when it becomes fully operational.

In the presence of Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, Bepza Member (Investment Promotion) Md Ashraful Kabir and Alpen Banyan Garments Director Li Tianning signed the agreement on behalf of their respective ends at Bepza Complex in the capital.

It would be the highest amount of proposed investment ever from a single company signed agreements to establish industries in the Bepza Economic Zone, the press release reads.

The Bepza executive chairman thanked Alpen Banyan Garments for choosing Bepza Economic Zone as its investment destination. He said Bepza welcomes investment from all sectors including RMG and textile but encouraging more investment in diversified sectors like automobile, electronics and electrical, IT products, etc.

According to the news release, Bepza gets positive responses from investors from home and abroad to invest in the Bepza Economic Zone, the largest venture of Bepza located at Mirsarai of Chattogram.

A total of 29 companies, including Alpen Banyan Garments, signed agreements to invest in the Bepza Economic Zone with a total proposed investment of $688 million, it reads.

In addition to the ready-made garments and textiles, these lease companies are supposed to produce diversified products such as footwear and footwear accessories, tents and camping equipment, hair care products and accessories, lubricating oil, disposable cutlery, etc, reads the press release.

Three companies of Bepza Economic Zone have already started their commercial production while three more companies are expected to make their first export by this year, it reads.

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