China-BD joint venture company to invest $1.46m in Ishwardi EPZ

Published: July 15, 2019 17:00:16 | Updated: July 16, 2019 09:53:48

Photo: BEPZA

A China-Bangladesh joint venture company, M/S Golden Ocean Limited, will invest $1.46 million to establish a garment accessories industry in Ishwardi Export Processing Zone.

In this regard, Bangladesh Export Processing Zones Authority (BEPZA) and M/s Golden Ocean Limited signed an agreement at BEPZA complex in the city, reports BSS on Monday quoting a press release.

Member (Investment Promotion) of BEPZA Zillur Rahman and Director of M/s Golden Ocean Limited Amin Nargis signed the agreement on behalf of their respective organisations.

The company will produce annually 65 million yards of elastic, ribbon, shoelaces, folder elastic and jacquard elastic, said a press release.

M/s Golden Ocean will create employment opportunity for 92 Bangladeshi nationals.

BEPZA Executive Chairman Major General S M Salahuddin Islam, Member (Engineering) Mohammad Faruque Alam and General Manager (Public Relations) Nazma Binte Alamgir, among others, were present at the signing ceremony.