Friday, 19 August, 2022

Chinese Co to invest $8.07m in BEPZA EZ

Chinese company Ms KPST Shoes (BD) Co Limited is going to establish a Shoes Accessories manufacturing industry in BEPZA Economic Zone (BEPZA EZ).

This fully foreign owned company will invest $ 8.07 million where 2650 Bangladeshi nationals will get employment opportunities, said a press release.

The company will produce annually 30 million pairs of insole, outsole and midsole and 0.3 million cubic meters EVA and PU foam.

The dependency on import of the above mentioned materials of export oriented shoe industries of the country will be decreased by the operation of the factory.

Ali Reza Mazid, Member (Investment Promotion) of BEPZA and LUO Zhexian, Managing Director of KPST Shoes (BD) Co Ltd signed an agreement to this effect on behalf of their respective organizations today at BEPZA Complex in the city.

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

Mentionable, including M/s. KPST Shoes, BEPZA approved a total of 12 enterprises to establish industries in BEPZA EZ, the largest venture of BEPZA. The total proposed investment of these enterprises is $251.78 million.

Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Admin) Md. Zakir Hossain Chowdhury, Project Director of BEPZA EZ Md. Hafizur Rahman, Executive Director (Investment Promotion) Md. Tanvir Hossain and Executive Director (Enterprise Services) Md. Khorshid Alam were present during the signing ceremony.