Bangladesh:Indian company to invest $9.5m in KEPZ

An Indian company named Geebee Garments Industries Limited will set up a garments manufacturing industry by investing 9.5 million US dollar in the Karnaphuli Export Processing Zone.
The fully foreign owned company will produce shirt, t- shirt, blouse, jackets, trousers and shorts and create employment opportunity for 2,278 Bangladeshi and 22 foreign nationals, a press release said.
An agreement was signed between the Bangladesh Export Processing Zones Authority and Geebee Garments Industries Limited in the BEPZA Complex here today.
Member (Investment Promotion) of BEPZA Prasanta Bhushan Barua and General Manager of Geebee Garments Industries Limited Shankaranarayanan Guruswami inked the agreement on behalf of their respective sides.
Executive Chairman of BEPZA Brig Gen Jamil Ahmed Khan and other officials from the respective organizations were present on the occasion.

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Source: Bangladesh Sangbad Sangstha . Dhaka