Chinese company Yifa Jute and Sisal Products Company Limited will invest US$ 2 million to establish a jute and sisal products manufacturing industry in Chattogram Export Processing Zone (EPZ).
In this regard, Bangladesh Export Processing Zones Authority (BEPZA) and M/S Yifa Jute and Sisal Products Company Limited on Monday inked an agreement at BEPZA Complex in the city, said a press release.Member (Investment Promotion) of BEPZA Zillur Rahman and Chairman of M/S Yifa Jute and Sisal Products Company Limited Mo Jisheng signed the agreement on behalf of their respective organisations.
BEPZA Executive Chairman Major General SM Salahuddin Islam, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Mizanur Rahman, General Manager (Public Relations) Nazma Binte Alamgir and General Manager (Investment Promotion) Md Tanvir Hossain were present at the signing ceremony.
This fully foreign owned company will produce annually 1000 tonnes rope and 1500 tonnes twine from jute and sisal, said a press release.
Besides, jute and sisal cloth, manila and cotton rope and cotton twine will also be produced here.
M/S Yifa Jute and Sisal Products Company Limited will create employment opportunity for 101 Bangladeshi nationals.