Industry

BEPZA EZ gets $28m more in investment

Nova Intima, a Hong Kong-British Virgin Island-owned ladies' undergarment manufacturing company, will invest $28 million in BEPZA Economic Zone (BEPZA EZ) in Mirsharai, Chattogram.

The company signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) in Dhaka Monday.

Ali Reza Mazid, member (investment promotion) of BEPZA, and Vijay Uttam, managing director of Nova Intima, signed the deal. Major General Abul Kalam Mohammad Ziaur Rahman, executive chairman of BEPZA, was also present.

Nova will annually produce 60 million units of ladies' undergarments and fabrics and accessories for producing those clothing items, employing more than 5,625 Bangladeshis.

Two other companies in Chattogram and Karnaphuli EPZs, under the same owner, invested around $22 million in the production of ladies' undergarments, employing around 6,000 Bangladesh nationals.

Source: United News of Bangladesh