Yabang Group plans $1.0b investment in BD
Sunday, 7 June 2020
Chairman of Yabang Group Xiaochu Xu has met Bangladesh Ambassador to China Mahbub Uz Zaman at his office in Beijing and discussed investment plans in Bangladesh, reports UNB.
They plan to invest in building a large scale industrial park in Bangladesh.
If things go according to plan, the initial investment may be around US$1.0 billion, said the Ambassador on Friday.
The investment is likely to generate employment for around 10,000 persons.
Their focus is on printing and dyeing, pharmaceuticals and other chemical plants. Xu was accompanied by Jianling Li , General Manager, Jiangsu Yabang Dyestuff Limited at the meeting held on Thursday.
The Yabang Investment holding group is one of the three leading companies in the chemical sector and among the 500 top listed companies in China . It has more than 15000 employees.
Its business covers dyeing, coating, pigment, medicine, veterinary, pharma, pesticides, photovoltaics, logistics, finance and real estate Industries. It has more than 60 subsidiaries (branch) companies.
The group's annual sales volumes exceeds USD 10 billion with the profit of 500 million.