Italian-Irish venture to invest $21.6m in BEPZA’s Mirsharai EZ

Italian and Irish-backed Deltaport Footwear Limited will invest US$21.6 million to establish a modern footwear manufacturing plant at the Bangladesh Export Processing Zones Authority (BEPZA) Economic Zone in Mirsharai, Chattogram.

The investment was formalised on Tuesday through the signing of a land lease agreement at the BEPZA Complex in the city, said a media release.

Under the project, the company will manufacture a wide range of footwear products, including injected, cemented, casual, formal, ladies’ and safety shoes, with an annual production capacity of around three million pairs.

The factory is expected to create employment for 468 Bangladeshi nationals and generate annual export earnings of about US$37.5 million by supplying products to markets in Italy, other European countries, the United Kingdom, the United States and Colombia.

Md. Tanvir Hossain, Executive Director (Investment Promotion) of BEPZA, and Deltaport Footwear Limited Chief Executive Officer Junaid Iqbal Umerani signed the agreement on behalf of their respective organisations.

BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony.

Speaking on the occasion, the BEPZA Executive Chairman welcomed Deltaport Footwear as a new investment partner and said BEPZA is continuously upgrading its infrastructure, services and investment facilities to provide a modern and business-friendly environment for investors.

He expressed hope that the investment would strengthen Bangladesh’s export competitiveness while creating new employment opportunities.

Junaid Iqbal Umerani said the project marks the company’s third investment in Bangladesh, all of which are located in BEPZA-administered zones.

He said the company had considered several destinations, including India and Vietnam, for its regional expansion but chose Bangladesh because of BEPZA’s investment-friendly environment, reliable infrastructure, professional services and the firm’s positive experience since its first investment at Cumilla EPZ in 2013.

Senior BEPZA officials and representatives of Deltaport Footwear attended the signing ceremony.