China’s Xihe Textile to set up garment unit in Bangladesh
China-owned company Xihe Textile Technology Bangladesh Ltd is going to set up a garments manufacturing industry in Mongla EPZ with an investment of $12.89 million.
Bangladesh
Chinese firm Xihe Textile Technology Bangladesh Ltd is going to set up a garments manufacturing industry in Mongla EPZ with an investment of $12.89 million.
An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Xihe Textile Technology Bangladesh Ltd at BEPZA Complex on Wednesday (5 April).
Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Yang Jilai, the managing director of Xihe Textile Technology Bangladesh Ltd signed the agreement on behalf of their respective organisations.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc was present during the signing ceremony.
2892 Bangladeshi nationals will get employment opportunity in this factory, said a press release.
This fully foreign-owned company will produce annually 5 million pcs of woven garments and 2.3 million pieces of knit garments.
The company has another RMG factory named M/s Garments Manufacture JINLITE Bangladesh in Mongla EPZ.
Source: The Business Standard
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