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India to invest $9.26m in Chattogram EPZ (BSS)

Summary

Updated on : 12-12-2021

Indian company Ms Sewtech Fashion Limited has signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to establish a Readymade Garments manufacturing industry in Chattogram EPZ with an investment of US$ 9.26 million.

Member (Engineering) of BEPZA Mohammad Faruque Alam and Director of Sewtech Fashion Limited Balagi Pavadai signed the agreement today at BEPZA Complex in the city on behalf of their respective organizations, said a press release.

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

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 3.36 million pieces of ladies, kids and men’s woven tops annually. They will create employment opportunities for 3,393 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.

Source : DHAKA, July 18, 2021 (BSS)