M/s Adnan Fibre Limited, a Bangladeshi company, is going to establish a backward linkage industry in Ishwardi Export Processing Zone (IEPZ) in Pabna.
Bangladesh Export Processing Zones Authority (BEPZA) and Adnan Fibre Limited on Sunday signed an agreement to this effect at BEPZA Complex in Dhaka, reports BSS citing a press release.
Member (Investment Promotion) of BEPZA Ali Reza Mazid and Managing Director of Adnan Fibre KH Adnan Mehmood signed the agreement on behalf of their respective organisations.
The Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.
They will invest 20.66 million US dollars to produce 25,000 tonnes of Polyester Staple Fibre (PSF) per annum. 514 Bangladeshi nationals will get employment opportunities in this factory.
The company will produce PSF from the PET Flex (PET Bottle) which will be collected locally. This will ultimately help to prevent environmental pollution. It is the 1st such type of factory in IEPZ and will be the 2nd in EPZs under BEPZA.
The BEPZA always encourages establishing such kind of backward linkage industries in EPZs import substitute products, said the release.
Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Administration) Md. Zakir Hossain Chowdhury, Executive Director (Public Relations) Nazma Binte Alamgir and Executive Director (Enterprise Services) Md. Khorshid Alam and Executive Director (Security) Lt Col ASM Quamruzzaman, PBGM of BEPZA were present at the function.