Lugang Technology (Bangladesh) Limited, a Hong Kong (China) owned company, is going to establish a textile industry at Ishwardi Export Processing Zone (IEPZ).
This fully foreign-owned company will invest US$22.99 million and 3182 Bangladeshi nationals will get jobs, reports UNB citing a press release.
The company will produce annually 5,100 tonnes of raw and dyed yarn.
Ali Reza Mazid, a Member (Investment Promotion) of BEPZA and Ding Feng, Vice General Manager of Lugang Technology (Bangladesh) Limited signed an agreement to this effect on behalf of their respective organizations on Wednesday at BEPZA Complex in Dhaka.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was present at the signing ceremony.
Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Administration) Md. Zakir Hossain Chowdhury, Executive Director (Investment Promotion) Md. Tanvir Hossain and Additional Executive Director (Public Relations) Anwar Parvez along with representatives of the enterprise were present at the signing ceremony.
