South Korean company CS Bangla Ltd will invest $25 million to set up a tent and outdoor camping items manufacturing factory in Mongla Export Processing Zone.
An agreement to this effect was signed between Bangladesh Export Processing Zones Authority and CS Bangla at Bepza Complex in Dhaka yesterday.
The fully foreign-owned company will produce 4.3 million pieces of tents, sleeping bags, camping chairs, bags and other accessories a year, according to a statement.
The factory will create 1,500 employment opportunities for Bangladeshi nationals, it said.
Abdul Halim Molla, member (investment promotion) of Bepza, and Do Kyun Kim, managing director of CS Bangla, signed the agreement.
Major General Mohd Habibur Rahman Khan, executive chairman of Bepza, was also present at the event.