Chinese company to invest $19.53m to set up textile industry
A Chinese company named ‘Bangladesh BaoRui Textile Co Ltd’ will invest US$ 19.53 million in Mongla Export Processing Zone (Mongla EPZ) to establish a composite textile manufacturing industry.
The Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the Chinese company at the BEPZA Complex in Dhaka on Monday.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was present at the ceremony, where member (Investment Promotion) of BEPZA Md Ashraful Kabir and Managing Director of Bangladesh BaoRui Textile Co Ltd.
Huang Hua signed the agreement on behalf of their respective organisations.
The Chinese company plans to produce 10 million lbs of raw yarn, 6 million lbs of knitted fabric, and 1 million pieces of garments annually, creating employment opportunities for 1505 Bangladeshi nationals.
BEPZA Executive Chairman thanked Bangladesh BaoRui Textile for choosing Mongla EPZ as their investment destination, highlighting BEPZA’s commitment to providing a secure and supportive environment for investors.
The signing ceremony was attended by
BEPZA Executive Director (Investment Promotion) Md.Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam, Executive Director (Admin) ASM Zamshed Khondaker and Executive Director (Public Relations) ASM Anwar Parvez, were present at the signing ceremony, among others.
Source: Daily Observer | 02 December 2024
