Chinese firm Kaixi to invest $61 million in Bepza economic zone

Chinese company Kaixi Lingerie Bangladesh Co Ltd is going to invest $60.85 million to set up a composite garments industry in Bepza Economic Zone.

Kaixi will set up its company at Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram and annually produce 30 million pieces of lingerie items and textiles (fabric), accessories, hangers and foam.

This investment will create employment opportunities for 11,000 Bangladeshi nationals, according to a press release of Bepza.

To this end, the firm signed an agreement with the Bangladesh Export Processing Zones Authority (Bepza) at Bepza Complex in Dhaka today.

Ali Reza Mazid, investment promotion member of Bepza, and Xiao Hongxi, director of Kaixi Lingerie Bangladesh, signed the deal.