Chinese firm to invest $30m in Bepza zone

Huarun Tex Co Ltd, a Chinese company, will invest $30 million to build a textile manufacturing plant at the Bangladesh Export Processing Zones Authority (Bepza) Economic Zone in Mirsharai, Chattogram.

The factory will be built on a 36,000-square-metre site, according to a media release.

Once operational, it will produce 24,000 tonnes of yarn and 20 million metres of grey woven fabric each year, creating jobs for 580 Bangladeshi nationals.

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

The agreement was signed by Md Tanvir Hossain, member (investment promotion) of Bepza, and Bin Wang, managing director of Huarun Tex, on behalf of their respective organisations.

Mohammad Moazzem Hossain, executive chairman of Bepza, thanked Huarun Tex for choosing Bangladesh, particularly the Bepza Economic Zone, for its investment.

He said Bepza is committed to providing a safe, modern and business-friendly environment for investors and assured the company of full support to ensure smooth operations.

Senior Bepza officials, including Abdullah Al Mamun, member (engineering), and ANM Foyzul Haque, member (finance), attended the signing ceremony along with representatives of Huarun Tex.