Bangladesh Export Processing Zones Authority (BEPZA) signed land lease agreements with two foreign-funded companies – MAS Sumantra 2 Private Limited, a Singapore-Sri Lanka based company and South Korea Gabo Global Limited – on Sunday.
Under the deal, both the companies will invest US$ 12 million to establish factories in Chattogram and Mongla EPZ, said a press release.Including these two, BEPZA signed agreement with 12 companies with total proposed investment of US$ 125.21 million during the current fiscal year 2020-21, said a press release.
MAS Sumantra 2 Private Limited, a Singapore-Sri Lanka owned company, will establish a garments manufacturing industry in Chattogram EPZ and Gabo Global Limited will set up a garments and camping manufacturing industry in Mongla EPZ.
MAS Sumantra will invest US$ 7.18 million to produce annually 28.58 million pieces of intimate garments specially Brief & Bra.
About 2673 Bangladeshi nationals will be employed in this factory.
South Korea M/s Gabo Global Limited will set up a garment and camping manufacturing industry in Mongla EPZ.
This company will invest US$ 4.85 million to produce 2.3 million pieces of woven garments, knit garments and campaign items per annum.This will create employment opportunity for 1030 Bangladeshi nationals.
In presence of the Executive Chairman of BEPZA Maj Gen Md Nazrul Islam, the land lease agreement signing ceremonial was held at BEPZA Complex in the capital.
Member (Investment Promotion) of BEPZA Md. Mahmudul Hossain Khan and Country Head of MAS Sumantra 2 Private Mangala Athauda including Managing Director of Gabo Global Do Kyun Kim inked these agreements on behalf of their respective organisations.
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 witnessed both the signing ceremonies.