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BD-China JV to invest $1.46m in IEPZ

Published : Tuesday, 16 July, 2019 at 9:19 AM  Count : 471
Business Correspondent

BD-China JV to invest $1.46m in IEPZ

BD-China JV to invest $1.46m in IEPZ

Golden Ocean Limited, a BD-China joint venture company will invest US$ 1.46 million to establish a garment accessories factory in Ishwardi Export Processing Zone (IEPZ).

Bangladesh Export Processing Zones Authority (BEPZA) and M/s Golden Ocean Limited signed an agreement at BEPZA complex in the city on Mondy, said a press release.

Member (Investment Promotion) of BEPZA Zillur Rahman and Director of M/s Golden Ocean Limited Amin Nargis signed the agreement on behalf of their respective organizations.

The company will produce annually 65 million yards of elastic, ribbon, shoelaces, folder elastic and jacquard elastic. M/s Golden Ocean will create employment opportunity for 92 Bangladeshi nationals in this facility.

BEPZA Executive Chairman Major General S M Salahuddin Islam, Member (Engineering) Mohammad Faruque Alam and General Manager (Public Relations) Nazma Binte Alamgir, among others, were present at the signing.

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