Chattogram EPZ to reopen 11 factories

The Bangladesh Export Processing Zones Authority (Bepza) has taken an initiative to reopen 11 factories and create around 10,000 jobs in Chattogram Export Processing Zone within a year.

Of the factories, the ownership of six factories has already been transferred to new hands, one will be reopened by its existing owner and the rest four will be auctioned off very soon, Bepza officials said.

The factories would take a year to go for production after completing development of necessary infrastructure, renovation and staff recruitment, said Khorshed Alam, general manager of the CEPZ.

The factories were shut down between 2012 and 2016 due to lack of foreign buyers, losses in production and workers' protest.

Of the factories, the ownership of Grey Fab (BD) Ltd has been taken over by Pacific Jeans, one of the leading garments manufacturers in the country.

“We hope to start operation very soon,” said Syed M Tanvir, director of Pacific Jeans.

Japanese company Kuroki Chain Ltd was shut down in 2016 after running business at the CEPZ for 30 years. The factory was handed over to Korean company Youngone Group.

The ownership of Northpole (BD) Ltd was handed over to Loyal Ten Group and Young International (BD) Ltd to FGI Group.

The move to change the ownership of Peninsula Garments Ltd and Hu Accessories Ltd is at the final stage, Bepza officials said, without disclosing the names of the new owners. Arrow Jeans Private Ltd is reopening its own factory and it will soon add new machinery to the unit.

The CEPZ, the first EPZ in Bangladesh, was established in 1983 over a 453-acre land and is located three kilometres away from the Chattogram Port.

A total of 201,798 people are now working in 160 factories inside the economic processing zone.