KEPZ goes into operation in April
CHITTAGONG, Mar 15 (BSS): Korean Export Processing Zone (KEPZ), in Chittagong is scheduled to go into operation within next month (April) initially with four shoe manufacturing units.
KEPZ sources said shoe factories in the zone were ready for going into production for last several months, but they could not go into production because of some problems with regard to the procurement of license, supply of power and gas.
Prime Minister Sheikh Hasina is expected to inaugurate the KEPZ, thought to be world’s largest EPZ spreading over 1642 acres of land .
With an initial investment of TK 700 crore, the KEPZ will create employments for nearly four thousand workers at the initial stage while it would generate nearly two lakh more jobs after going into full operation by next two years.
Deputy General Manager of KEPZ Major (retd) Monir Hasan told BSS that they would gradually start other units of the shoe factories in the KEPZ which would run on own power generators and bring about a revolutionary change in trade and investment in the country.
“Four lakh shoes would be manufactured per month from the four units and nearly one crore shoes are expected to be produced after launching all the 16 units of the shoe factories”, Hasan added.
Total investment in KEPZ project is estimated at US$ four billion and nearly 30 industrial units would be set up here in next one decade, sources said.
The KEPZ, owned by Korean company Youngone, made its journey 10 years ago at Deyang Hill on the south bank of the Karnaphuli but it could not go into operation for various problems, the source added.