Chinese co to invest $12m in Ishwardi EPZ

Chinese company M/s Qinda Outdoor (BD) Co Ltd is going to set up a tent, sleeping bag and bag manufacturing factory in Ishwardi Export Processing Zone (IEPZ).

An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Qinda Outdoor (BD) Co at BEPZA Complex, Dhaka on Tuesday. Ali Reza Mazid, member (Investment Promotion) of BEPZA and Zhang Yan, representative of Qinda Outdoor signed the agreement on behalf of their respective organisations, said a press release.

BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc were present during the signing ceremony.

The fully foreign-owned company will invest $12 million in this regard. This factory will produce annually 2 million pieces of tents, canopy, bags, sleeping bags, back packs, etc.