Chinese plans $30m investment in BEPZA Economic Zone

Chinese company Huarun Tex Co Ltd plans to invest US$30 million to establish a textile plant at the Bangladesh Export Processing Zones Authority (BEPZA) Economic Zone in Mirsharai, Chattogram, a BEPZA press release said.

The factory will occupy 36,000 square metres and, once fully operational, will produce 24,000 tonnes of yarn and 20 million metres of grey woven fabric annually. The project is expected to create 580 jobs for Bangladeshi nationals.

BEPZA and Huarun Tex Co Ltd signed a land lease agreement on July 16 at the BEPZA Complex in Dhaka.

Md Tanvir Hossain, Member (Investment Promotion) of BEPZA, and Bin Wang, Managing Director of Huarun Tex Co Ltd, signed the agreement on behalf of their respective organisations. BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony.

At the signing ceremony, the BEPZA Executive Chairman thanked Huarun Tex Co Ltd for choosing the BEPZA Economic Zone as its investment destination. He said BEPZA is committed to providing a safe, modern and business-friendly environment for investors and would extend all necessary support for the smooth operation of the project.

Senior BEPZA officials and representatives of the Chinese company were also present at the signing ceremony.