Thursday, 9 December, 2021

Korean firm Kido to invest $31.17m in Adamjee EPZ

  • Staff Correspondent
  • 9 November, 2021 12:00 AM
  • Print news
Korean firm Kido to invest $31.17m in Adamjee EPZ
BEPZA Member (Investment Promotion) Ali Reza Mazid and Kido Dhaka Company Acting Director Young Dae (Joseph) exchange documents after signing an agreement at BEPZA Complex in Dhaka on Monday.

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South Korean company Kido Dhaka Co. Limited is going to establish a high-end garments and sportswear manufacturing industry in Adamjee EPZ with an investment of $ 31.17 million.

Bangladesh Export Processing Zones Authority (BEPZA) and Kido Dhaka Co. Limited signed an agreement at the BEPZA Complex in Dhaka on Monday.

Member (Investment Promotion) of BEPZA Ali Reza Mazid and Acting Director of Kido Dhaka Co. Ltd. Ahn, Young Dae (Joseph) signed the agreement on behalf of their respective organisations.

New Executive Chairman of BEPZA Major General AKM Ziaur Rahmann and his predecessor Major General Md Nazrul Islam were present at the agreement signing ceremony.

Kido is a renowned sportswear manufacturing industry of South Korea.

The company also has five plants in Vietnam, Myanmar and Indonesia. It now has investment plan in Bangladesh, said a press release.

Kido expressed hopes to invest more through leasing the closed industrial plants of export processing zones (EPZs). It said there are land scarcities in suitable EPZs.

 The fully foreign owned company will produce annually 2 million pieces of cloths jacket, motorcycle safety jacket, leather and fiber jacket, work jacket, sports jacket, fleece jacket, baby warmer (jacket), soft shell (jacket), sweatshirt (jacket),vest, work-wear, coverall, hospital gown, protective cloths and PPE etc.

 The company will create job opportunities for over 6 thousand Bangladeshis and will create more in future gradually, Kido said.

The agreement signing ceremony was also attended, among others, by BEPZA Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Secretary Md. Zakir Hossain Chowdhury, General Manager (Public Relations) Nazma Binte Alamgir, General Manager (Investment Promotion) Md. Tanvir Hossain, Chief Engineer Md. Ashraful Kabir and General Manager (Enterprise Services) Md. Khorshid Alam.