BEPZA signs US$111m deals with four Companies
Business Desk :
Bangladesh Export Processing Zones Authority (BEPZA) has signed agreements with four companies to set up industries at the BEPZA Economic Zone in Mirsarai, Chattogram, involving a total investment of US$111.26 million and creating employment for 7,607 Bangladeshis.
The agreements were signed on Thursday at the BEPZA Complex in Dhaka.Among the four investors, three are fully foreign-owned enterprises from China, Singapore and a China-Singapore joint venture, while one is a Bangladeshi firm.The new industries will produce footwear, processed leather, testing and quality assurance services, and garments accessories.China’s Tai Ma Shoes (BD) Company Limited is making the largest investment, committing US$55.05 million to establish a footwear manufacturing plant,reports UNB.
The factory will have an annual capacity of 7 million pairs of formal and casual shoes and is expected to employ 5,900 local workers.Singapore-based Bangladesh Singsin Leather Company Limited will invest US$25.03 million to set up a leather processing facility.
The plant will produce 36 million square feet of finished leather annually from crust leather and create 480 jobs.Anre Holding (BD) Company Limited, a China-Singapore joint venture, will invest US$20.03 million in establishing a testing laboratory.
The facility will provide quality testing services for raw materials and finished products, mainly supporting industries operating in the BEPZA Economic Zone. The project will employ 770 local workers.Bangladeshi company Raptox Industries Limited will invest US$11.15 million to manufacture labels, tags, tapes, printing and packaging materials, and other garments accessories.
The project, with a production capacity of 20,000 metric tonnes per year, will generate employment for 457 people.BEPZA Member (Investment Development) Md Ashraful Kabir signed the agreements on behalf of BEPZA, while representatives of the respective companies signed on their behalf.
BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony as chief guest.
Welcoming the new investors, the BEPZA Executive Chairman expressed gratitude for choosing the BEPZA Economic Zone as their investment destination.Moazzem Hossain reaffirmed BEPZA’s commitment to providing continuous support to ensure smooth business operations.
Moazzem Hossain encouraged the new companies to begin construction quickly and commence export operations, while also calling on them to promote investment opportunities in the electronics sector.