United News of Bangladesh

The Bangladesh Economic Zones Authority (BEZA) has officially handed over 12.5 acres of land to Chinese manufacturing giant China Lesso Group in the National Special Economic Zone (EZ). The land lease agreement was signed earlier on September 19, 2024. According to a press release issued on Monday, China Lesso Group will invest around US$32.772 million to produce PVC pipes, PEX pipes, solar panels, sanitary ware, kitchen equipment, doors and windows, water purifiers, waterproofing materials, fire-fighting equipment, cables, lighting, environmental protection products, and other construction materials. The products will also be manufactured locally as part of the company’s market expansion in Bangladesh. BEZA Executive Chairman Chowdhury Ashik Mahmud Bin Harun said the handover marked a step towards fostering an investment-friendly, innovation-driven industrial environment. He expressed hope that it would inspire further investment in the zone. South Korean company to invest $ 8.06 million in Mongla EPZ A representative of China Lesso Group said the project would prioritise environment-friendly products, renewable energy, and related supply chains, alongside financial returns. In 2024, China Lesso Group posted revenues of around $974 million. The company employs roughly 20,000 people worldwide and operates production facilities in Indonesia, Cambodia, Thailand, Malaysia, the Philippines and several other countries. BEZA and China Lesso Group expect that the investment and subsequent job creation will boost the economic significance and growth potential of the zone. The National Special EZ currently houses 15 operational industrial units, with several more under construction.