Indian co to invest $9.26m in Ctg EPZ

Staff Correspondent

19 July, 2021 12:00 AM printer

Indian co to invest $9.26m in Ctg EPZ

BEPZA Member (Engineering) Mohammad Faruque Alam and Sewtech Fashion Director Balagi Pavadai sign an agreement at BEPZA Complex in the capital on Sunday.

Indian company Sewtech Fashion Limited will establish a RMG manufacturing industry in Chattogram EPZ with an investment of US$ 9.26 million.

An agreement with Bangladesh Export Processing Zones Authority (BEPZA) was signed in this regard on Sunday, said a press release.

This is a sister concern of India’s largest apparel manufacturer company Shahi Exports Pvt Ltd.

Member (Engineering) of BEPZA Mohammad Faruque Alam and Director of Sewtech Fashion Limited Balagi Pavadai signed the agreement on behalf of their respective sides on Sunday at BEPZA Complex in the capital.

It may be mentioned that BEPZA is receiving many investment proposals from both local and foreign investors even amid the pandemic.

This fully foreign owned company will produce annually 3.36 million pieces of ladies, kids and men’s woven tops. They will create employment opportunity for 3393 Bangladeshi nationals.

Among others, Member (Finance) Nafisa Banu, Secretary Md Zakir Hossain Chowdhury and General Manager (Investment Promotion) Md Tanvir Hossain of BEPZA were present at the signing ceremony.