Indo-Bangla JV to invest $2.95m in Ishwardi EPZ

Khyaati Leather Innovations BD Ltd, an India-Bangladesh joint venture, is set to establish a garment accessories and bags manufacturing factory at the Ishwardi Export Processing Zone in Pabna at an investment of $2.95 million.

The joint venture has signed an agreement with the Bangladesh Export Processing Zones Authority (Bepza) to this effect recently, according to a press release.

The company will produce 40-50 million pieces of artificial leather or leather, heat seal labels, silicon labels, artificial leather belt, printed fabrics, buttons, rivets, metal or plastic ID cards and other items annually.

It will also manufacture metal and plastic eyelets, lock-pin, hanging accessories, fabric label, hangtags or stickers, laces, shoe soles, bags, fashionable tapes, taffeta labels, woven labels, and knitted and fabric belts.

The investment will create job opportunities for 116 Bangladeshi nationals, said the Bepza in the press release. 

Md Mahmudul Hossain Khan, member for investment promotion of the Bepza, and Pravin Satyapal Uppal, chairman of Khyaati Leather, inked the deal at the Bepza Complex in Dhaka recently.

Bepza Executive Chairman Md Nazrul Islam said the Bepza was trying its best to attract local and foreign investment to the EPZs.

There are eight EPZs in Bangladesh.