Member (Investment Promotion) of BEPZA Ali Reza Mazid and managing director of Adnan Fibre KH Adnan Mehmood signed the agreement on behalf of their respective organizations.
The executive chairman of BEPZA major general Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony
They will invest $20.66 million to produce 25,000 metric tons of Polyester Staple Fibre (PSF) per annum. 514 Bangladeshi nationals will get employment opportunities in this factory, the press release said.
The company will produce PSF from the PET Flex (PET Bottle) which will be collected locally. This will ultimately help to prevent environmental pollution. It is the 1st such type of factory in IEPZ and will be the 2nd in EPZs under BEPZA.
Bangladesh Export Processing Zones Authority (BEPZA) always encourages establishing such kind of backward linkage industries in EPZs import substitute products.
Among others, member (engineering) Mohammad Faruque Alam, member (finance) Nafisa Banu, executive director (administration) Md Zakir Hossain Chowdhury, executive director (public relations) Nazma Binte Alamgir and executive director (enterprise services) Md Khorshid Alam and executive director (security) Lt Col ASM Quamruzzaman, PBGM of BEPZA were present during the time.