Chinese company to invest $23.15m in Uttara EPZ

Bangladesh Boyang Textile Co. Ltd., a Chinese company, is going to set up a textile and home textile manufacturing industry in Uttara EPZ with an investment of US$ 23.15 million, reports BSS.

Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company to this end at BEPZA Complex in the city on Sunday, said a press release.

Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.

Ali Reza Mazid, Member (Investment Promotion) of BEPZA, and Peng Liu, Chairman of Bangladesh Boyang Textile Co., signed the agreement on behalf of their respective organisations.

This fully foreign owned company will create employment opportunities for 1993 Bangladeshi nationals.

Bangladesh Boyang Textile Co. will produce annually 50 million metres of linen/cotton woven and denim fabrics and 3 million pieces of home textile items such as pillow cases, bed sheets and tablecloths.

Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Public Relations) Nazma Binte Alamgir and Executive Director (Investment Promotion) Md. Tanvir Hossain were present at the signing ceremony.

Uttara EPZ is a shining example of changing lifestyle of the northern region. This region has been transformed into an industrially developed area after the establishment of Uttara EPZ in 2001.

At present, around 35,000 Bangladeshi nationals are working in the 25 operational industries of this EPZ. The zone has so far attracted investment of US$ 235 million and exported goods worth of US$ 2342 million.