Chinese co to invest $60.85m in BEPZA EZ

Chinese company Kaixi Lingerie Bangladesh Ltd is going to set up a composite garments industry in BEPZA Economic Zone (EZ) with an investment of $60.85 million.

An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Kaixi Lingerie Bangladesh Co Ltd at BEPZA Complex on November 8.

Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Xiao Hongxi, Director of Kaixi Lingerie Bangladesh signed the agreement on behalf of their respective organisations.

BEPZA Executive Chairman Abul Kalam Mohammad Ziaur Rahman congratulated the Kaixi Lingerie for choosing BEPZA EZ as their investment destination. He assured the new investor to provide all sorts of support of BEPZA for setting up the industry and starting operations.

BEPZA Executive Chairman urged upon the investors for the optimum uses of land during the construction of the factory. He also requested to keep such provisions in the factory building so that they can use its rooftop for producing renewable energy.

Xiao Hongxi thanked BEPZA to allot plot in BEPZA EZ and processing their project very quickly.

According to the proposal of Kaixi Lingerie, they will produce annually 30 million pcs of Lingerie items and Textile (fabric), Accessories, Hanger and Foam only for their own consumption for manufacturing and exporting lingerie. The factory will create employment opportunities for 11000 Bangladeshi nationals.