Business Desk :
Pacific Denimwear Ltd, a unit of Pacific Jeans Group, plans to invest $54.5 million to establish a garment factory in the Adamjee Export Processing Zone (EPZ).
This will be the ninth venture of Pacific Jeans Group in EPZs, the Bangladesh Export Processing Zones Authority (BEPZA) said in a statement on Sunday.
Pacific Denimwear will be the first enterprise of this group to operate outside the Chattogram EPZ, said the BEPZA.
BEPZA Member for Investment Promotion Ali Reza Mazid and Pacific Denimwear Managing Director Syed Mohammed Tanvir signed an agreement on behalf of their organisations. BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was also present at the event.
Pacific will produce annually 12.5 million pieces of ladies’ tops, 12.5 million pieces of formal and casual wear for men and women and 3.1 million pieces of casual wear for boys and girls.
The investment by the company will create employment opportunities for 7,970 Bangladeshi nationals, the BEPZA said.
