Bangladeshi company to invest $29m in DEPZ

http://www.bssnews.net/newsDetails.php?cat=2&id=171456&date=2011-04-07

Bangladeshi company to invest $29m in DEPZ

DHAKA, April 7 (BSS) – A Bangladeshi company will set up a plastic raw materials processing and polyester synthetic and yarn manufacturing industry in the Dhaka Export Processing Zone.

Bengal Petrochem and Synthetic Textile Limited, the 100 percent Bangladeshi owned company, will invest 29 million US dollars in setting up their unit and will manufacture plastic raw materials processing and polyester synthetic and yarn items, a BEPZA press release said.

“The company will also create employment opportunity for 1,200 Bangladeshi nationals,” it said.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority (BEPZA) and M/s Bengal Petrochem and Synthetic Textile Limited at BEPZA Complex here today.

Md Moyjuddin Ahmed, member (Investment Promotion) of BEPZA, and Humayun Kabir, Director of M/s, Bengal Petrochem and Synthetic Textile Limited, signed the agreement on behalf of their respective organizations.

Major General A T M Shahidul Islam, executive chairman of the BEPZA, was also present on the occasion.

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