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Chinese company to invest $23.15m in Uttara EPZ

Chinese company to invest $23.15m in Uttara EPZ

Chinese company M/s. Bangladesh Boyang Textile Co. Ltd. is going to set up a textile and home textile manufacturing industry in Uttara EPZ with an investment of US$ 23.15 million. Bangladesh Export Processing Zones Authority (BEPZA) on Sunday (Sep 24) signed an agreement with the company to this effect at BEPZA Complex in the city, said a press release.

The 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. Ltd. signed the agreement on behalf of their respective organizations.

This fully foreign owned company will create employment opportunities for 1,993 Bangladeshi nationals.

Bangladesh Boyang Textile Co. will produce annually 50 million meters of linen/cotton woven & denim fabrics and 3 million pieces of home textile like 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 during the signing ceremony.

Uttara EPZ is a shining example of changing lifestyle of the Northern region. Once poverty stricken area has been transformed to an industrially developed area after establishing 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.