China company to invest $42m in Ishwardi EPZ

Chinese company Vanessa Enterprise has signed a $41.77 million deal with Bangladesh Export Processing Zones Authority (Bepza) to produce accessories for ladies' intimate garments in the Ishwardi export processing zone (EPZ) in Pabna.

As per the agreement, the company will annually produce 299.52 million pieces of bra cup and polyurethane foam, said a Bepza press release yesterday.

Bepza said the factory would employ at least 4,028 Bangladeshi nationals.

Bepza Member (Finance) Nafisa Banu and Vanessa Enterprise Managing Director Choi Chun Ho signed the agreement recently at Bepza Complex in Dhaka.