Taiwanese co to invest $7.93m in DEPZ
Sunday, 29 July 2007
FE Report
Lasting Spring Metal Industries Limited (LSMIL), a Taiwanese company, will invest $7.930 million (79.30 lakh) to set up a metal-based garments accessories industry in Dhaka Export Processing Zone (DEPZ).
A lease agreement to this effect was signed between the Bangladesh Export Processing Zones Authority (BEPZA) and LSMIL in the city recently. BEPZA Member (Investment Promotion) Prasanta Bhushan Barua and LSMIL Secretary Hsulynn signed the deal on behalf of their respective organisations.
Among others, BEPZA Executive Chairman Ashraf Abdullah Yussuf, Member (Engineering) Md Farhad Uddin, General Manager (Investment Promotion) AZM Azizur Rahman, Deputy General Manager (Public Relations) Nazma Binte Alamgir and Manager (Industrial Relations) Md Abdus Sobhan were also present at the signing ceremony.
The cent per cent foreign-owned company will manufacture annually 3.0 million kg of copper and brass-wire related products, 1.5 million kg of zinc-related products, and 0.3 million kg of alum-wire related products.
Besides, all kinds of metal-based garments and shoe accessories like button, bag, cap, different types of ring, buckles, belt, tape, badge, slider, top stop and bottom stop etc will be manufactured in the company. It will also create employment opportunity for 592 Bangladeshis and 13 foreign nationals.
Meanwhile, Italy and Bangladesh will jointly invest $5.672 million to establish a rolling shutter and accessories industry, named LM Masinara Asia Limited (LMMAL), in Karanphuli Export Processing Zone (KEPZ).
A lease agreement to this effect was signed between the BEPZA and LMMAL in the city recently. BEPZA Member (Investment Promotion) Prasanta Bhushan Barua and LMMAL Managing Director Yunus Ahmed signed the deal on behalf of their respective organisations.
Among others, BEPZA Executive Chairman Ashraf Abdullah Yussuf, Member (Engineering) Md Farhad Uddin, Member (Finance) AKM Mahbubur Rahman, General Manager (Investment Promotion) AZM Azizur Rahman, Deputy General Manager (Public Relations) Nazma Binte Alamgir and Manager (Investment Promotion) Md Tanvir Hossain were also present at the signing ceremony.
The company will annually manufacture about 13 million pieces of shutter profile and spring box. LMMAL will also create employment opportunity for 389 Bangladeshis and two foreign nationals.
Lasting Spring Metal Industries Limited (LSMIL), a Taiwanese company, will invest $7.930 million (79.30 lakh) to set up a metal-based garments accessories industry in Dhaka Export Processing Zone (DEPZ).
A lease agreement to this effect was signed between the Bangladesh Export Processing Zones Authority (BEPZA) and LSMIL in the city recently. BEPZA Member (Investment Promotion) Prasanta Bhushan Barua and LSMIL Secretary Hsulynn signed the deal on behalf of their respective organisations.
Among others, BEPZA Executive Chairman Ashraf Abdullah Yussuf, Member (Engineering) Md Farhad Uddin, General Manager (Investment Promotion) AZM Azizur Rahman, Deputy General Manager (Public Relations) Nazma Binte Alamgir and Manager (Industrial Relations) Md Abdus Sobhan were also present at the signing ceremony.
The cent per cent foreign-owned company will manufacture annually 3.0 million kg of copper and brass-wire related products, 1.5 million kg of zinc-related products, and 0.3 million kg of alum-wire related products.
Besides, all kinds of metal-based garments and shoe accessories like button, bag, cap, different types of ring, buckles, belt, tape, badge, slider, top stop and bottom stop etc will be manufactured in the company. It will also create employment opportunity for 592 Bangladeshis and 13 foreign nationals.
Meanwhile, Italy and Bangladesh will jointly invest $5.672 million to establish a rolling shutter and accessories industry, named LM Masinara Asia Limited (LMMAL), in Karanphuli Export Processing Zone (KEPZ).
A lease agreement to this effect was signed between the BEPZA and LMMAL in the city recently. BEPZA Member (Investment Promotion) Prasanta Bhushan Barua and LMMAL Managing Director Yunus Ahmed signed the deal on behalf of their respective organisations.
Among others, BEPZA Executive Chairman Ashraf Abdullah Yussuf, Member (Engineering) Md Farhad Uddin, Member (Finance) AKM Mahbubur Rahman, General Manager (Investment Promotion) AZM Azizur Rahman, Deputy General Manager (Public Relations) Nazma Binte Alamgir and Manager (Investment Promotion) Md Tanvir Hossain were also present at the signing ceremony.
The company will annually manufacture about 13 million pieces of shutter profile and spring box. LMMAL will also create employment opportunity for 389 Bangladeshis and two foreign nationals.