Oasis Accessories (Pvt.) Ltd., a Bangladeshi company, is set to invest US$4.8 million to establish a garment accessories factory in BEPZA Economic Zone (BEPZA EZ) at Mirsarai in Chattogram.
An agreement to this effect was signed on Monday at the BEPZA Complex in Dhaka between the Bangladesh Export Processing Zones Authority (BEPZA) and Oasis Accessories, according to a press release.
BEPZA executive chairman Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.
Member (Investment Promotion) Md. Ashraful Kabir signed the agreement on behalf of BEPZA while Managing Director of Oasis Accessories Md. Selim Reza inked it on behalf of the company.
Under the project, the company will annually produce 1 million pieces of carton boxes, 42 million polybags, and 1 million meters of foam.
The factory is expected to create employment opportunities for 311 Bangladeshi nationals.
With this, a total of 48 companies, including Oasis Accessories, have so far signed agreements with BEPZA EZ, bringing the proposed investment in the zone to US$1028.39 million.