India-Bangladesh joint venture company — M/S Khyaati Leather Innovations BD Ltd. — has signed an agreement with the Bangladesh Export Processing Zones Authority to establish a garments accessory and bag manufacturing industry in Ishwardi EPZ with an investment of $ 2.95 million.
On May 19, Mahmudul Hossain Khan, Member (Investment Promotion) of the Bangladesh Export Processing Zones Authority (BEPZA), and Pravin Satyapal Uppal, Chairman of Khyaati Leather, signed the agreement at BEPZA Complex, Dhaka on behalf of their respective organisations.
Major General Md Nazrul Islam, Executive Chairman of BEPZA, witnessed the signing ceremony, according to a press release.
The company will produce annually 40-50 million pieces of back patches, heat seal labels, silicon labels, printed fabrics, buttons, rivets, metal/plastic IDs, metal and plastic eyelets, lock-pin, hanging accessories, fabric label, hang tags/stickers, laces, shoe sole, shoe upper, bags, all types of fashionable tapes, taffeta labels, woven labels and knitted and fabric belts etc.
This investment will create employment opportunities for 116 Bangladeshi nationals.
BEPZA is trying its best to attract local and foreign investments in the EPZs even during the Covid-19 pandemic, the media release added.
