JV co to invest $20.11m in Adamjee EPZ

M/s Universal Menswear Limited, a Romania-Bangladesh joint venture company, will set up a garment factory in the Adamjee Export Processing Zone (EPZ). In this connection, an agreement was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Universal Menswear in the city Tuesday, said a press release. Member (Investment Promotion) of the BEPZA Md Moyjuddin Ahmed and Managing Director of Universal Menswear Sharif Zahir signed the agreement on behalf of their respective organisations. This company will invest US$20.11 million in setting up the factory and will manufacture garments item. The company will also create employment opportunity for 5089 Bangladeshi nationals. Executive Chairman of the BEPZA Major General ATM Shahidul Islam, Member (Engineering) Abu Reza Khan, Member (Finance) AKM Mahbubur Rahman, Secretary Md Shawkat Nabi, General Manager (Investment Promotion) AZM Azizur Rahman and other officials of BEPZA were present at the deal signing ceremony.