Chinese co to invest $109m in BEPZA EZ

Alpen Banyan Garments BD Co. Ltd., a Chinese company, signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) on Wednesday with a view to investing US$ 108.99 million in the BEPZA Economic Zone, report BSS.
The company will set up a garment manufacturing factory on 90,000 square metres of land, with an annual production capacity of 43 million pieces of woven and knit garments, said a press release.
The company will create employment opportunities for 11,995 Bangladeshi nationals when it will come into operation in full swing.
Member (Investment Promotion) of BEPZA Md Ashraful Kabir and Director of Alpen Banyan Garments Li Tianning signed the agreement at BEPZA Complex in the city in presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman.
It would be the highest amount of proposed investment ever from a single company among those that have signed agreements to establish industries in the BEPZA Economic Zone.
BEPZA Executive Chairman Major General Abul Kalam thanked Alpen Banyan Garments for choosing BEPZA EZ as their investment destination.
He said that BEPZA welcomes investments from all sectors, including RMG and textiles, while also encouraging more investments in diversified sectors like automobile, electronics and electrical, and IT products etc.
BEPZA has received positive responses from the investors at home and abroad to invest in BEPZA EZ, its largest venture located at Mirsharai, Chattogram.
A total of 29 companies, including Alpen Banyan Garments, signed agreements to invest in the BEPZA EZ with a total proposed investment of USD 688 million.
In addition to the ready-made garments and textiles, these lease companies are supposed to produce diversified products such as footwear and footwear accessories, tents and camping equipment, hair care products and accessories, lubricating oil, disposable cutlery etc.
Three companies in BEPZA EZ have already started their commercial production while three more companies are expected to make their first export by this year.