China-BD jv co to invest $21.5m in Mongla EPZ

M/s Rich Time Enterprise Limited, a China-Bangladesh joint venture company, is going to establish a leather and leather products industry involving US$ 21.5 million in the Mongla Export Processing Zone (EPZ).
In this connection, an agreement was signed between the Bangladesh Export Processing Zones Authority (BEPZA) and M/s Rich Time Enterprise in the city on Thursday, said a press release.
Member (Investment Promotion) of the BEPZA Sayed Nurul Islam and Managing Director of Rich Time Enterprise Md Suzan signed the deal on behalf of their respective organisations.
After completion, the company will annually produce 5.0 million square feet of finished leather, 0.20 million pieces of bags and 0.10 million pair of shoes.
The company will also create employment opportunity for 3162 Bangladeshi nationals.
Among others, Executive Chairman of the BEPZA Major General Mohd Habibur Rahman Khan, ndc, psc, was present at the deal signing ceremony.