An Italian-Irish investment has joined the Bangladesh Export Processing Zones Authority (BEPZA) Economic Zone in Mirsharai, Chattogram, with Deltaport Footwear Limited committing US$21.6 million to establish a modern export-oriented footwear manufacturing plant.

A land lease agreement was signed on Tuesday at the BEPZA Complex in Dhaka, paving the way for the new factory, which is expected to strengthen Bangladesh's footwear export sector, create jobs and boost foreign exchange earnings.

Md. Tanvir Hossain, Executive Director (Investment Promotion) of BEPZA, signed the agreement on behalf of the authority, while Chief Executive Officer Junaid Iqbal Umerani signed for Deltaport Footwear Limited. The signing ceremony was witnessed by BEPZA Executive Chairman Major General Mohammad Moazzem Hossain.

The company plans to manufacture around three million pairs of footwear annually, including injected, cemented, casual, formal, ladies' and safety shoes.

Once fully operational, the factory will employ 468 Bangladeshi nationals and is expected to generate annual export earnings of about US$37.5 million.

Its products will be exported to Italy, other European markets, the United Kingdom, the United States and Colombia, said a press release.

Senior BEPZA officials and representatives of Deltaport Footwear also attended the signing ceremony.