South Korean company to invest $4.15 million in Mongla EPZ
South Korean company JD Creation Ltd will invest $4.15 million in Mongla Export Processing Zone to establish an industry to manufacture camping items, garments, tents and garment accessories.
Once complete, the fully-owned company will annually produce 4.85 million pieces of camping equipment, such as sleeping bags, backpacks, and hats alongside woven garment items like shirts, jackets, and about 2 million yards of printing, embroidery, string and elastic bands.
Mohammad Faruque Alam, member for engineering and investment promotion (additional charge) at Bangladesh Export Processing Zones Authority (Bepza), and Seung Chul Kim, managing director of JD Creation, signed an agreement in this regard at a programme at Bepza Complex in Dhaka today.
The project is JD Creation's second venture in the country, where it has operated an electronics and electrical goods production unit called U-jin Led Co (BD) at the Chattogram Export Processing Zone since 1989.
The project will create employment opportunities for around 2,000 people in the country, Bepza said in a statement.
The South Korean company opted for the new venture at Mongla EPZ after being pleased with the services and overall investment climate of Bepza so far, the statement read.
Major General Md Nazrul Islam, executive chairman of Bepza, was also present at the deal signing ceremony.