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Chinese company to invest $60.85m in BEPZA EZ

Chinese company to invest $60.85m in BEPZA EZ

Chinese company Kaixi Lingerie Bangladesh Company Ltd is going to set up a composite garments factory with an investment of $60.85 million at the Bangladesh Export Processing Zones Authority (BEPZA)'s Economic Zone (EZ) in Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram. The investment will create employment opportunity for 11,000 people in the factory, said a press release.

Ali Reza Mazid, member (Investment Promotion) of BEPZA, and Xiao Hongxi, Director of Kaixi Lingerie Bangladesh, signed an agreement to this effect at BEPZA Complex in Dhaka on Tuesday (Nov 8).

Under the agreement, Kaixi Lingerie Bangladesh will annually produce 30 million pieces of lingerie items as well as textile fabrics, accessories, hangers and foam for their own consumption for manufacturing and exporting lingerie.

Major General Abul Kalam Mohammad Ziaur Rahman, Executive Chairman of BEPZA, congratulated Kaixi Lingerie for choosing BEPZA EZ for their investment destination.

He assured the new investor of providing all sorts of support for setting up the industry and starting operations. He also urged the investor to ensure optimum use of land during the construction of the factory.

Rahman requested the company to use its factory rooftop for producing renewable energy.