Singapore-India owned company to invest $ 9.24m in BEPZA EZ

Business report:

The Bangladesh Export Processing Zones Authority (BEPZA) has signed a lease agreement with Allied Tobacco Company Limited, a Singapore-India-owned company, to establish a 100 percent export-oriented cigarette manufacturing industry in the BEPZA Economic Zone (EZ).

The company will invest US$ 9.24 million to produce 9 billion cigarette sticks annually, creating employment opportunities for 127 Bangladeshi nationals.

The agreement was signed on Thursday at the BEPZA Complex in the capital by Md Imtiaz Hossain, Member (Engineering and Investment Promotion – Additional Charge) of BEPZA, and Tay Yong Sheng Edwin, Managing Director of Allied Tobacco Company Limited, says a press release.

BEPZA Executive Chairman, Major General Abul Kalam Mohammad Ziaur Rahman, BSP, ndc, psc, witnessed the signing ceremony. The Executive Chairman expressed his appreciation to Allied Tobacco Company Limited for investing in BEPZA EZ and assured the company of full support to ensure smooth business operations.