Chinese company to invest $19.53 mn in Bangladesh's Mongla EPZ

04 Dec '24

1 min read

Chinese company to invest $19.53 million in Mongla

Pic: BEPZA

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Bangladesh BaoRui Textile will invest $19.53 million to establish a composite textile manufacturing facility in Mongla EPZ, producing 10 million lbs of raw yarn, 6 million lbs of fabric, and 1 million garments annually.
The project will create 1,505 jobs.
BEPZA's executive chairman thanked the company for its investment and encouraged further Chinese investments.

Bangladesh BaoRui Textile, a Chinese company, will invest $19.53 million to establish a composite textile manufacturing industry in Mongla Export Processing Zone (Mongla EPZ). The Bangladesh Export Processing Zones Authority (BEPZA) signed the agreement with the company on December 2, 2024, at the BEPZA Complex in Dhaka.

The Chinese company plans to produce 10 million lbs of raw yarn, 6 million lbs of knitted fabric, and 1 million garments annually at its new facility in Mongla EPZ. The project will create 1,505 jobs for Bangladeshi nationals, BEPZA said in a press release.

BEPZA executive chairman Abul Kalam thanked Bangladesh BaoRui Textile for selecting Mongla EPZ for its investment, emphasizing BEPZA's commitment to offering a secure and supportive environment for investors. He encouraged the company and other Chinese investors to explore further investments in diverse sectors such as pharmaceuticals, solar panels, and man-made fibres.

Fibre2Fashion News Desk (RR)

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