UK-Bangla co to set up bicycle industry at Adamjee EPZ

UK-Bangladesh joint venture company, M/s Evergreen Cycles Limited, is going to establish a bicycle manufacturing industry in Adamjee EPZ with an investment of US$ 15.50 million, reports BSS.

The company will produce 2,00,000 pcs of adult bicycles, kids bicycles and adult electric bicycles per annum where employment opportunities will be created for 71 Bangladeshi nationals.

In presence of BEPZA Executive Chairman Major General S M Salahuddin Islam, an agreement to this effect was signed recently between Bangladesh Export Processing Zones Authority (BEPZA) and M/s Evergreen Cycles Limited at BEPZA Complex in the city, said a press release.

Member (Investment Promotion) of BEPZA Md Mahmudul Hossain Khan and Managing Director of Evergreen Cycles Limited Sanaul Haque Babul inked this deal on behalf of their respective organizations.

Among others, Member (Engineering) Mohammad Faruque Alam, Secretary Md. Zakir Hossain Chowdhury, General Manager (Public Relations) Nazma Binte Alamgir and General Manager (Investment Promotion) Md. Tanvir Hossain of BEPZA were present during this time.