Singapore-India owned company to invest $ 9.24 million at BEPZA Economic Zone

The Bangladesh Export Processing Zones Authority (BEPZA) has signed a lease agreement with Allied Tobacco Company Limited, a Singapore-India-owned company, to establish a 100 percent export-oriented cigarette manufacturing industry in the BEPZA Economic Zone (EZ).

The company will invest US $ 9.24 million to produce 9 billion cigarette sticks annually.

The agreement was signed on Thursday (March 13) at the BEPZA Complex in Dhaka. Md. Imtiaz Hossain, Member (Engineering & Investment Promotion – Additional Charge) of BEPZA, and Tay Yong Sheng Edwin, Managing Director of Allied Tobacco Company Limited signed in the deed documents on behalf of their respective sides.

BEPZA Executive Chairman, Major General Abul Kalam Mohammad Ziaur Rahman was present at the signing ceremony.