Chinese company Alpen Banyan Garments BD Co. Ltd. signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to invest US$ 108.99 million in BEPZA Economic Zone (BEPZA EZ).

This company will set up a garment manufacturing factory on 90 thousand square meters of land where 43 million pcs of Woven and Knit garments will be produced annually, said a press release issued on Tuesday.

The company will create employment opportunities for 11,995 Bangladeshi nationals when it will come into operation in full swing.

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In the presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, BSP, ndc, psc, Member (Investment Promotion) of BEPZA Mr. Md. Ashraful Kabir and Director of Alpen Banyan Garments BD Co. Ltd. Mr. Li, Tianning signed the agreement on behalf of their respective organisations at BEPZA Complex, in the capital.

It would be the highest amount of proposed investment ever from a single company signed agreements to establish industries in BEPZA EZ.

BEPZA Executive Chairman thanked Alpen Banyan Garments for choosing BEPZA EZ as their investment destination. He said that BEPZA welcomes investment from all sectors including RMG and Textile but encouraging more investment in diversified sectors like Automobile, Electronics and Electrical, IT products etc.

Mentionable, BEPZA gets positive response from the investors of home and abroad to invest in BEPZA EZ, the largest venture of BEPZA located at Mirsharai, Chattogram.

A total of 29 companies, including Alpen Banyan Garments, signed agreements to invest in the BEPZA EZ with a total proposed investment of USD 688 million.

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In addition to the ready-made garments and textiles, these lease companies are supposed to produce diversified products such as footwear and footwear accessories, tents and camping equipment, hair care products and accessories, lubricating oil, disposable cutlery, etc.

Three companies of BEPZA EZ have already started their commercial production while three more companies expected to make their first export by this year.

Member (Engineering) Mohammad Faruque Alam, Member (Finance) A N M Foyzul Haque, Executive Director (Enterprise Services) Md. Khorshid Alam, Executive Director (Public Relations) ASM Anwar Parvez and Executive Director (Investment Promotion- Addl. Charge) Fazlul Haque Mazumder along with the representatives of the company were present during the signing ceremony.