Chinese company United Spinning and Dyeing Limited is going to invest USD 28.20 million to set up a Dyed Textile Yarn manufacturing facility in the Uttara EPZ.
Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company to this effect in Dhaka today (Wednesday).
Ali Reza Mazid, Member (Investment Promotion) of BEPZA, and Yu Min, Managing Director of United Spinning and Dyeing signed an agreement on behalf of their respective organizations.
The Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman, NDC, psc witnessed the signing ceremony.
Executive Chairman thanked United Spinning and Dyeing for choosing Uttara EPZ for investment. Mentioning upcoming Jashore and Patuakhali EPZ, he requested to make a plan to invest there in diversified products.
Yu Min said that it is their first project in EPZ and they have a plan to invest more. He hoped that the company would come into production within the next October.
United Spinning and Dyeing Limited will create employment opportunities for 1816 Bangladeshi nationals and produce annually 12,000 metric ton of dyed textile yarn.