Bangla-UAE garment plant to invest $25m in Adamjee EPZ
Unb, Dhaka
Bangladesh and United Arab Emirates (UAE) will invest US$25 million for setting up a garment manufacturing plant in Adamjee Export Processing Zone (EPZ).The joint venture company--Motherland Export Apparels Int'l Ltd--will annually produce 36 lakh kg of dye and 10 lakh dozens of T-shirt and polo shirt, including different types of apparels. The company will create employment for 2,569 Bangladeshis. A lease agreement to this effect was signed between Bangladesh Export Processing Zones Authority (Bepza) and Motherland Export Apparels on Wednesday in Dhaka. Masud Ahmed, member (Investment Promotion) of Bepza and Sayed Rana Moostofee, chairman and managing director of the company, signed the deal on behalf of their respective organisations. Ashraf Abdullah Yussuf, Bepza executive chairman, among others, was present at the signing ceremony.
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