Chinese co to invest $19.5m in Mongla EPZ for textile manufacturing facility

Bangladesh BaoRui Textile Co. Ltd., a Chinese company, is set to invest US$ 19.53 million in Mongla Export Processing Zone (Mongla EPZ) to establish a composite textile manufacturing industry, reports BSS.

To this end, the Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company at the BEPZA Complex in Dhaka on Monday.

Member (Investment Promotion) of BEPZA Md Ashraful Kabir and Managing Director of Bangladesh BaoRui Textile Huang Hua signed the agreement on behalf of their respective organisations in presence of BEPZA Executive Chairman Maj Gen Abul Kalam Mohammad Ziaur Rahman.

The Chinese company plans to produce 10 million pounds of raw yarn, six million pounds of knitted fabric, and 1 million pieces of garments annually, creating employment opportunities for 1,505 Bangladeshi nationals.

BEPZA Executive Chairman thanked Bangladesh BaoRui Textile for choosing Mongla EPZ as their investment destination, highlighting BEPZA's commitment to providing a secure and supportive environment for investors.

He encouraged the company and other Chinese investors to consider further investments in diverse sectors, including pharmaceuticals, solar panels, man-made fibers, etc.

The signing ceremony was attended by BEPZA officials, including Executive Director (Investment Promotion) Md. Tanvir Hossain.