Chinese company to invest $89m to set up first composite factory in Mongla EPZ
Chinese company Yun Sheng BD Co Ltd will invest $89 million to establish a composite factory to produce textile, garments and accessories in Mongla Export Processing Zone (EPZ).
It will be the first such factory in the Mongla EPZ.
It is also the highest amount of proposed investment ever from a single company, the Bangladesh Export Processing Zones Authority (Bepza) said in a press release.
Yun Sheng BD will produce woven or knitted fabrics, padding, quilts, printed fabrics, embroidered fabrics, coated fabrics, laminated fabrics and all kinds of tape.
The investment will generate employment opportunities for 5,421 Bangladeshi nationals, according to the press release.
The company signed an agreement with Bepza to this end today, Bepza said.
Ali Reza Mazid, investment promotion member of Bepza, and Ji Lai Yang, managing director of Yun Sheng BD, signed the agreement.