Chinese company to invest $12.89mn in Mongla EPZ

A Chinese company will invest $ 1.289 crore at the Mongla Export Processing Zone (EPZ) to establish a garment manufacturing industry.

The company, M/s Xihe Textile Technology Bangladesh Ltd, signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) at BEPZA Complex on Tuesday in the capital in this regard, claims a statement.

Ali Reza Mazid, member (Investment Promotion) of BEPZA and Yang Jilai, managing director of Xihe Textile Technology Bangladesh Ltd signed the agreement on behalf of their respective organisations. The Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.

Some 2,892 Bangladeshi nationals will get employment opportunity in this factory, while the company will produce annually 50 lakh pieces of woven garments and over 20 lakh pieces of knit garments.

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