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Indian company Sewtech Fashion Limited, a sister concern of India’s largest apparel manufacturer company Shahi Exports Pvt Ltd, is investing $9.26 million in the Chattogram Export Processing Zone.
The agreement to invest in the readymade garment sector was signed by Balagi Pavadai, director of Sewtech Fashion, and Mohammad Faruque Alam, of the Bangladesh Export Processing Zones Authority, or BEPZA, on Sunday in Dhaka, reports bdnews24.com citing a press release.
The company, which will be fully foreign-owned, will make about 3.36 million pieces of woven tops and create new employment opportunities for 3,393 Bangladeshis, BEPZA said.
BEPZA said it is receiving investment proposals from local and foreign investors despite the pandemic.