Chinese company M/s United Spinning and Dyeing Ltd is going to invest US$ 28.20 million to set up a Dyed Textile Yarn manufacturing industry in Uttara EPZ.
Bangladesh Export Processing Zones Authority (BEPZA) today signed an agreement with the company to this effect at BEPZA Complex in the city.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Mr. Yu Min, Managing Director of United Spinning and Dyeing Ltd. signed the agreement on behalf of their respective organisations.
The Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc witnessed the signing ceremony.
Executive Chairman thanked United Spinning and Dyeing Ltd. for choosing Uttara EPZ for investment. Mentioning the upcoming Jashore and Patuakhali EPZs, he requested to make a plan to invest there in diversified products.
Yu Min said that it is their first project in EPZ and they have a plan to invest more. He hoped that the company would come into production within October next.
United Spinning and Dyeing Limited will create employment opportunities for 1816 Bangladeshi nationals and produce 12,000 metric tonnes of dyed textile yarn annually.
Among others, Member (Engineering) Mohammad Faruque Alam, Executive Director (Administration) A N M Foyzul Haque, Executive Director (Investment Promotion) Md. Tanvir Hossain, Executive Director (Enterprise Services) Md. Khorshid Alam and Executive Director (Public Relations) A.S.M. Anwar Parvez were present during the signing ceremony.