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BEPZA signs land lease deals with two foreign firms
The Bangladesh Export Processing Zones Authority (BEPZA) on Monday signed land lease agreements with two fully foreign-owned companies to establish new industrial units at the BEPZA Economic Zone, marking an inflow of USD 70.66 million in the light engineering and garment accessories sectors.
The investment, from Hong Kong–China-based DJ Copper Company Limited and GRX Technology (BD) Company Limited, is expected to create employment opportunities for 1,105 Bangladeshi nationals while supporting diversified industrial growth and strengthening the country’s export-oriented production base, said a press release.
Md Ashraful Kabir, Member (Investment Promotion) of BEPZA, signed the agreemetns on behalf of the authority while Zhang Na, Managing Director of GRX Technology (BD) Company Limited, and Zhang Junfeng, Managing Director of DJ Copper Company Limited, signed for their respective companies.
BEPZA’s Executive Chairman Major General Mohammad Moazzem Hossain witnessed the ceremony.
Under the agreements, DJ Copper Company Limited will invest USD 50.66 million to produce light engineering and copper-based products, including wires, sheets, hardware, cable wires, zipper teeth, brass wires, and electronic accessories, on 21,600 square metres of land, employing 535 workers.
GRX Technology (BD) Company Limited will invest USD 20 million to manufacture garment accessories such as zippers, sliders, buttons, logos, and belt buckles on 14,400 square metres, creating 570 jobs, reports UNB.