Chinese co to set up garment industry in Mongla EPZ

Xihe Textile Technology Bangladesh Limited, a Chinese company, will set up a garment manufacturing industry in Mongla EPZ with an investment of USD $12.89 million, reports UNB.
An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and the Xihe Textile in the capital on Tuesday.
The fully foreign-owned company will produce 5 million pieces of woven garments and 2.3 million pieces knit garments annually. The Xihe Textile will create employment opportunities for 2892 Bangladeshi nationals.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA, and Yang Jilai, Managing Director of Xihe Textile Technology, signed the agreement on behalf of their respective sides.
Abul Kalam Mohammad Ziaur Rahman, general and executive chairman of BEPZA, witnessed the signing ceremony.