The Hong Kong (China)-owned M/s Campvalley Chittagong Limited will invest $54 million to set up a camping equipment and garment manufacturing facility at the Bepza economic zone of the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram.

The Bangladesh Export Processing Zones Authority (Bepza) and Campvalley Chittagong signed an agreement to this effect at the former's office in Dhaka yesterday.

Ali Reza Mazid, member (investment promotion) of Bepza, and Hong Woo Lee, chairman of Campvalley Chittagong, signed the agreement on behalf of their respective organisations.

Through its investment, Campvalley Chittagong aims to produce around 21.4 million tents, bags, camping chairs, luggage, sleeping bags, different types of knit and woven garments, umbrellas, mattresses, and more each year.

Once operational, the factory will generate employment opportunities for a total of 9,380 Bangladeshi nationals.

There are two other tent manufacturing companies in the Chattogram and Karnaphuli export processing zones operating under the same owner.

Major General Abul Kalam Mohammad Ziaur Rahman, executive chairman of Bepza, witnessed the signing ceremony.

Among others, Mohammad Faruque Alam, member (engineering) of Bepza, Md Zakir Hossain Chowdhury, executive director (administration), Nazma Binte Alamgir, executive director (public relations), Md Tanvir Hossain, executive director (investment promotion), Md Khorshid Alam, executive director (enterprise services), and Md Hafizur Rahman, project director of the Bepza economic zone, were present.

Till date, Bepza has signed lease agreements with five other companies to set up industrial units in its economic zone at the BSMSN.

The five companies will invest $60 million collectively, creating employment opportunities for around 23,582 Bangladeshi nationals.