Business Desk
Progress Apparels (Bangladesh) Limited, an India-Bangladesh joint venture company, will invest US$ 6.66 million for setting up a ready-made garment (RMG) plant in Iswhardi Export Processing Zone (EPZ).
In this connection, an agreement was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Progress Apparels (Bangladesh) Limited at BEPZA Complex in the city on Tuesday, said a press release.
BEPZA Member (Investment Promotion) Sayed Nurul Islam and Progress Apparels Managing Director Muhammad Shahed Mahmud signed the agreement on behalf of their respective organisations.
BEPZA Executive Chairman Major General Mohd Habibur Rahman Khan, Member (Engineering) Md Mosaddeque Ali, Secretary Md Shawkat Nabi, General Manager (Public Relations) Nazma Binte Alamgir and General Manager (Investment Promotion) Ahsan Kabir were also present in the signing ceremony.
The RMG plant will annually produce 9.76 million pieces of shirt and pants.
Progress Apparels Limited will create employment opportunity for 2,264 Bangladeshi nationals.