$26mn new investment in Dhaka EPZ

Hong Kong-Sri Lanka-Switzerland-owned company Gava Private Limited is going to establish a garments manufacturing industry in Dhaka EPZ. 

This fully foreign-owned company will invest $25.62 million where 3,086 Bangladeshi nationals will get employment opportunities, said a news release. 

The tri-nation company will produce 4.4 million (44 lakh) pieces of jacket, fleece jacket, T-shirt, polo shirt, sweater, trousers, coverall, stretch pant, denim pant, shorts, shirt, sweat-shirt, hi-vis shirt, and vest annually.

A-One BD, a knitting and other textile factory of DEPZ was shut down due to a business downturn. BEPZA has decided to take steps for the auction process considering the continuation of the investment flow and the employment of the workers. 

Later, Gava Private Limited signed the agreement to purchase A-One BD Limited Company through an auction process and to run their business in the EPZ. 

Ali Reza Mazid, Member (Investment Promotion) of BEPZA, and Prasanna Kumar Jayasinghe, Director of Gava Private Limited, on Sunday signed an agreement to this effect on behalf of their respective organisations at BEPZA Complex in the city. 

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

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, Executive Director (Investment Promotion) Md Tanvir Hossain and Executive Director (Enterprise Services) Md Khorshid Alam were present during the signing ceremony.