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Chinese Company to invest $8.7m in Ishwardi EPZ

BSS . Dhaka
27 Feb 2023 17:05:31 | Update: 27 Feb 2023 21:50:51
Chinese Company to invest $8.7m in Ishwardi EPZ
— BSS Photo

IHM Garments and Textile Company Limited, a Chinese company, is going to establish a garments manufacturing industry in Ishwardi EPZ with an investment of $ 8.7 million.

An agreement to this effect was signed Monday between Bangladesh Export Processing Zones Authority (BEPZA) and IHM Garments and Textile Company Limited at BEPZA Complex in the capital, read a press release.

Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Yu Binbin, Chairman of IHM Company signed the agreement on behalf of their respective organisations.

Major General Abul Kalam Mohammad Ziaur Rahman, Executive Chairman of BEPZA, witnessed the signing ceremony.

This fully foreign owned company will annually produce 2.6 million pcs of woven tops and 10.6 million pcs of knit tops and pants for ladies, kids and men. IHM Garments and Textile Company Limited will create employment opportunities for 2457 Bangladeshi nationals.

Among others, Member (Engineering) Md Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Administration) Md Zakir Hossain Chowdhury, Executive Director (Public Relations) Nazma Binte Alamgir, Executive Director (Investment Promotion) Md Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam of BEPZA were present during the signing ceremony.