This major investment will see Alpen Banyan Garments establish a garment manufacturing facility on 90 thousand square metres of land within the economic zone. The factory is set to produce 43 million pieces of woven and knit garments annually, creating nearly 12,000 jobs for Bangladeshi nationals, BEPZA said in a press release.
Alpen Banyan Garments BD Co Ltd will invest $108.99 million in the BEPZA Economic Zone (BEPZA EZ) in Bangladesh.
The agreement, signed with the Bangladesh Export Processing Zones Authority (BEPZA), will establish a garment factory on 90,000 square metres, producing 43 million woven and knit garments annually and creating nearly 12,000 jobs.
The agreement was signed at a ceremony held at the BEPZA Complex in the presence of BEPZA executive chairman major general Abul Kalam Mohammad Ziaur Rahman. Representing their respective organisations, Md Ashraful Kabir, member (investment promotion) of BEPZA, and Li Tianning, director of Alpen Banyan Garments BD Co Ltd, formalised the deal.
Major general Ziaur Rahman thanked Alpen Banyan Garments for selecting BEPZA EZ as their investment destination. He reiterated BEPZA’s commitment to welcoming investments across various sectors, with a particular focus on diversifying into areas such as automobile manufacturing, electronics, and IT products.
The BEPZA EZ, located in Mirsharai, Chattogram, is the largest project of its kind under BEPZA. It has attracted positive responses from both local and international investors. A total of 29 companies, including Alpen Banyan Garments, signed agreements to invest in the BEPZA EZ with a total proposed investment of $688 million. These companies plan to produce a wide range of products, including footwear and accessories, tents and camping equipment, among other things.
Currently, three companies within BEPZA EZ have already commenced commercial production, with three more expected to begin their first exports by the end of the year.
The signing ceremony was attended by several high-ranking officials, including member (engineering) Mohammad Faruque Alam, member (finance) A N M Foyzul Haque, executive director (enterprise services) Md Khorshid Alam, executive director (public relations) A.S.M Anwar Parvez, and executive director (investment promotion – additional charge) Fazlul Haque Mazumder.
Fibre2Fashion News Desk (KD)
