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Chinese company to invest $12.89m in Mongla EPZ

Chinese company to invest $12.89m in Mongla EPZ

A China-owned company M/s Xihe Textile Technology Bangladesh Ltd is going to set up a garments manufacturing industry in Mongla EPZ with an investment of $12.89 million. An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and M/s. Xihe Textile Technology Bangladesh Ltd at BEPZA Complex, Dhaka on Tuesday (Apr 5), said a press release.

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

A total of 2,892 Bangladeshi nationals will get employment opportunities in this factory.

This fully foreign-owned company will produce annually 5 million pieces of Woven garments and 2.3 million 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 at the signing ceremony.