Saleh Ahmad, Executive Member (Investment Development) of BEZA, and SM Shahinuzzaman, Managing Director of Rosin Exports Limited, signed the agreement on behalf of their respective organisations at the BEZA office on Wednesday. Bangladeshi garment manufacturer Rosin Exports Limited will invest around $10 million to establish a modern denim products manufacturing facility at Jamalpur Economic Zone (JEZ).
The factory, to be set up on five acres of land, is expected to create around 800 jobs once fully operational.
To this effect, the company signed a land lease agreement with the Bangladesh Economic Zones Authority (BEZA) at a ceremony held at BEZA headquarters in the city on Wednesday, a statement said.
Executive Member (Investment Promotion) of BEZA Saleh Ahmed and Managing Director of Rosin Exports Limited SM Shahinuzzaman signed the lease agreement on behalf of their respective sides.
Founded in 2005, Rosin Exports Limited is engaged in the production and export of knit garments. The company also operates another factory in Jamalpur district and currently employs nearly 10,000 workers across its operations.
Speaking at the signing ceremony, Saleh Ahmed said the domestic industrial groups' investment in the Jamalpur Economic Zone would play a significant role in boosting export earnings and promoting technology-driven industrialisation.
He further said BEZA would continue providing necessary support to ensure a business-friendly environment and urged the investor to expedite the establishment of the factory.
Mr SM Shahinuzzaman said their company is preparing to set up a modern and environment-friendly industrial facility in the economic zone with the support of BEZA.
He noted that the company has already been working to develop skilled manpower for the knitwear industry in Jamalpur.
Jamalpur Economic Zone is the first government economic zone being implemented in the Mymensingh division.
The zone, with a proposed area of around 436 acres, is expected to create employment opportunities for about 32,000 people upon full implementation.
Infrastructure development, including gas pipeline connection, a 33/11 kV power substation, administrative and dormitory buildings, land development, groundwater reservoir, and boundary wall construction, in the zone has already progressed.
So far, BEZA has signed lease agreements with around 20 industrial enterprises to set up industrial units in the zone. Of them, three factories are expected to begin production soon, while nine others are currently under construction.
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