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Chinese company to invest $109m in EZs

Published : Wednesday, 26 June, 2024 at 12:00 AM  Count : 451
Business Correspondent
Chinese company Alpen Banyan Garments BD Co. Ltd. signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) on Tuesday to invest US$ 108.99 million in Mirsharai Export Processing Zones under BEPZA.
This company will set up a garment manufacturing factory on 90 thousand square meters of land where 43 million pcs (pieces) of Woven and Knit garments will be produced annually. The company will create employment for 11,995 Bangladeshi nationals when it will come into operation in full swing.
Member (Investment Promotion) of BEPZA Md. Ashraful Kabir and Director of Alpen Banyan Garments BD Co. Ltd. Li, Tianning signed the agreement for their respective organizations at BEPZA Complex in presence of its Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, says a press release.
It would be the highest amount of proposed investment agreement ever signed by a single company to establish industries in BEPZA EZ.
BEPZA Executive Chairman thanked Alpen Banyan Garments for choosing BEPZA EZ as their investment destination. He said BEPZA welcomes investment from all sectors including RMG and Textile while encouraging more investment in diversified sectors like Automobile, Electronics and Electrical, IT products etc.
BEPZA gets ever growing positive response from investors at home and abroad to invest in BEPZAs Mirsharai Economic Zone in Chattogram.
A total of 29 companies, including Alpen Banyan Garments, signed agreements to invest in the EZs under BEPZA with a total proposed investment of USD 688 million.
In addition to 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.
Three companies at EZs have already started their commercial production while three more companies expected to make their first export by this year.
Member, Engineering Mohammad Faruque Alam, Member, Finance A N M Foyzul Haque, Executive Director, Enterprise Services Md. Khorshid Alam, Executive Director Public Relations A.S.M Anwar Parvez and Executive Director, Investment Promotion Fazlul Haque Mazumder were present along with representatives of Alpen Banyan in the signing event.


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Editor : Iqbal Sobhan Chowdhury
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