Chinese company to set up $8.7m RMG factory
The factory at Ishwardi EPZ would employ over 2,450 people
China-based IHM Garments and Textile Company Ltd will invest $8.7 million to establish a garments factory at the Ishwardi Export Processing Zone in Pabna district, says a press release.
An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority (BEPZA) and IHM Garments at Bepza Complex in the capital on Monday.
Ali Reza Mazid, member for investment promotion at Bepza and Yu Binbin, chairman of IHM Garments signed the agreement on behalf of their respective organisations in the presence of Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman.
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This fully foreign owned company aims to annually produce 2.6 million pieces of woven tops and 10.6 million pieces of knit tops and pants for ladies, kids and men, creating employment opportunities for 2,457 people.
Among others, Bepza members Md Faruque Alam and Nafisa Banu, executive directors Md Zakir Hossain Chowdhury, Nazma Binte Alamgir, Md Tanvir Hossain and Md Khorshed Alam were also present during the investment agreement signing ceremony.
