Indo-Bangla jv to invest $2.95m in Ishwardi EPZ

Staff Correspondent

26 May, 2021 12:00 AM printer

Indo-Bangla jv to invest $2.95m in Ishwardi EPZ

BEPZA Member (Investment Promotion) Md Mahmudul Hossain Khan and Khyaati Leather Chairman Pravin Satyapal Uppal exchange documents after signing an agreement at BEPZA Complex in the capital recently.

Bangladesh-India joint venture company Khyaati Leather Innovations Bd Limited has signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to establish a garments accessories and bags manufacturing industry in Ishwardi EPZ with an investment of US$ 2.95 million.

The company will produce annually 40-50 million pieces of back patches- paper/PU/leather, heat seal labels, silicon labels, belts-PU/leather, printed fabrics, buttons, rivets, metal/plastic IDs, metal and plastic eyelets, lock-pin, hanging accessories, woven labels and knitted and fabric belts etc.

They will create employment opportunity for 116 Bangladeshi nationals.

Member (Investment Promotion) of BEPZA Md. Mahmudul Hossain Khan and Chairman of Khyaati Leather Pravin Satyapal Uppal signed the agreement on behalf of their respective companies recently at BEPZA Complex in the capital.

Executive Chairman of BEPZA Major General Md Nazrul Islam witnessed the signing ceremony.

BEPZA is trying its best to attract local and foreign investment in the EPZs even during the Covid-19 pandemic.

Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Secretary Md. Zakir Hossain Chowdhury, General Manager (Public Relations) Nazma Binte Alamgir and General Manager (Investment Promotion) Md. Tanvir Hossain of BEPZA were present on the occasion.