India to invest $9.26M in Chattogram EPZ

Indian company M/s Sewtech Fashion Limited will establish a Readymade Garments manufacturing industry in Chattogram EPZ with an investment of $9.26 million.

 

The company, a sister concern of India's largest apparel manufacturer Shahi Exports Pvt Ltd, has signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) in this regard today.

 

Member (Engineering) of BEPZA Mohammad Faruque Alam and Director of Sewtech Fashion Limited Balagi Pavadai signed the agreement at BEPZA Complex in Dhaka on behalf of their respective organisations.

 

Issuing a press release, BEPZA said it 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.