Vernon and Oliver Furniture Company Limited, a China-Malaysia joint venture, will invest US$ 14.55 million in the BEPZA Economic Zone to set up a factory to produce mattress.
An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Vernon & Oliver Furniture Company Limited at BEPZA Complex in the city on Sunday, reports BSS.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA, and Lee Wai Choong, Managing Director of Vernon and Oliver Furniture Company, signed the agreement on behalf of their respective organisations.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.
This company will be the first mattress manufacturing industry in any of the EPZs and BEPZA EZ.
The company will produce 180,000 pieces of spring mattress & foam mattress annually and 600 Bangladeshi nationals will get employment opportunities in this factory.
BEPZA has so far approved a total of 24 enterprises, including this one, to establish industries in BEPZA EZ and most of them will produce diversified products. The total proposed investment of these enterprises stands at US$ 510.2 million.
Among others, Executive Director (Administration) A N M Foyzul Haque, Executive Director (Investment Promotion) Md. Tanvir Hossain, Executive Director (Enterprise Services) Md. Khorshid Alam and Executive Director (Public Relations) A.S.M. Anwar Parvez were present during the signing ceremony.
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