KPST expands operations in BEPZA EZ-1 with $7m investment

 
Chinese investor KPST is set to expand its business in BEPZA Economic Zone-1 (BEPZA EZ-1) by establishing a second manufacturing facility with an investment of US$ 7.01 million.

The new project, KPST New Material (BD) Co, Ltd, reflects the company's continued confidence in the Bangladesh Export Processing Zones Authority(BEPZA) and its investment-friendly services and support, said a press release.

To this end, the company signed a land lease agreement with BEPZA on Wednesday, at the BEPZA Complex, according to BSS report. 

The new facility will manufacture footwear accessories, bag and luggage components, paper products, printed materials and other related items, creating employment opportunities for 200 Bangladeshi nationals.

Md Tanvir Hossain, member (Investment Promotion) of BEPZA, and Zhang Youguo, director of KPST New Material (BD) Co, Ltd, signed the agreement on behalf of their respective organisations.

BEPZA Executive Chairman Major General Mohammad Moazzem Hossain, along with senior BEPZA officials witnessed the signing ceremony.

The company will establish its factory on 7,200 square metres of land in BEPZA EZ-1. The facility will have an annual production capacity of 11 million pairs of footwear accessories, 24,000 cubic metres of foam, 200,000 cutting boards and 250,000 cutting dies or moulds, alongside other products.

The company will supply its products to footwear manufacturers in India and Cambodia, as well as to export-oriented footwear factories in Bangladesh.