Bangladesh-India joint venture company to invest $2.95m in Ishwardi EPZ

India-Bangladesh joint venture company Khyaati Leather Innovations BD Limited has signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to establish a garments accessories and bags manufacturing industry in Ishwardi EPZ with an investment of $2.95 million, reports BSS.

Member (investment promotion) of BEPZA Md Mahmudul Hossain Khan and chairman of Khyaati Leather Pravin Satyapal Uppal signed the agreement recently at BEPZA Complex in the city on behalf of their respective organizations, said a press release on Tuesday.

The executive chairman of BEPZA Major General Md Nazrul Islam witnessed the signing ceremony.

The company will produce annually 40-50 million pieces of back patches- paper/PU/leather, heat seal labels, silicon labels, belts- pu/leather, printed fabrics (coated and uncoated), buttons, rivets, metal/ plastic ids, metal and plastic eyelets, lock-pin, hanging accessories, fabric label, hang tags/stickers, laces, shoe sole, shoe upper, bags, all types of fashionable tapes, taffeta labels, woven labels and knitted and fabric belts etc, said a press release.

They will create employment opportunities for 116 Bangladeshi nationals.

BEPZA is trying its best to attract local and foreign investment in the EPZs even during the Covid-19 pandemic.