Chinese company Kaixi Lingerie Bangladesh Co Ltd will set up a composite garments industry in Bangladesh Export Processing Zones Authority (BEPZA) Economic Zone (EZ) with an investment of $60.85 million.
They signed an agreement with BEPZA to this effect at BEPZA Complex in Dhaka on Tuesday.
According to the proposal of Kaixi Lingerie, they will produce annually 30 million pieces of Lingerie items and textiles (fabric), accessories, hangers, and foam only for their own consumption for manufacturing and exporting lingerie. The factory will create employment opportunities for 11000 Bangladeshi nationals.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA, and Xiao Hongxi, Director of Kaixi Lingerie Bangladesh signed the agreement on behalf of their respective organizations.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman congratulated the Kaixi Lingerie for choosing BEPZA EZ as their investment destination. He assured the new investor to provide all sorts of support of BEPZA for setting up the industry and starting operations.
BEPZA Executive Chairman urged upon the investors for the optimum uses of land during the construction of the factory. He also requested to keep such provisions in the factory building so that they can use its rooftop for producing renewable energy.
Xiao Hongxi, Director of Kaixi Lingerie Bangladesh thanked BEPZA to allot plot in BEPZA EZ and processing their project very quickly.