A China Hong Kong-based company Tianford Bangladesh Textile Co. Ltd., has signed a land lease agreement with Bangladesh Export Processing Zones Authority to set up a readymade garments factory at Uttara EPZ.

The company will invest $19.59 million and create jobs for 3,254 Bangladeshi nationals.

The agreement was signed today at the BEPZA Complex in Dhaka. Md Tanvir Hossain, Executive Director Investment Promotion of BEPZA, signed the deal on behalf of the authority. Ge Zhenyu, Nominee Director of Tianford Bangladesh Textile Co. Limited, signed on behalf of the company.

BEPZA Executive Chairman Major General Mohammad Moazzem Hossain was present during the signing ceremony, according to a press release.

The company will produce woven and knit garments including bottoms, tops, shirts, jeans, jackets, T shirts, polo shirts, sportswear, sweaters, hoodies and jerseys. The annual production capacity will be seven million pieces.

The factory will be built on 24,000 square meters of land. The products will be exported to the USA, Canada, Japan, China, Australia, Brazil, the UK and European countries.

Welcoming the investor, the BEPZA Executive Chairman said the authority is committed to providing seamless services and a business-friendly environment to ensure smooth implementation of the project. He said the new government is giving importance to investment and is focused on supporting investors.

BEPZA will provide more efficient and investor-oriented services. He also encouraged the company to source quality raw materials locally to help strengthen domestic industries, he added.

Ge Zhenyu expressed satisfaction over BEPZA initiatives and said Bangladesh is becoming an attractive destination for global investors. He said construction of the factory will start in April this year and exports are expected to begin next year.

The ceremony was attended by Abdullah Al Mamun, Member Engineering, A N M Foyzul Haque, Member Finance, Samir Biswas, Executive Director Administration, ASM Anwar Parvez, Executive Director Public Relations, along with senior officials of BEPZA and representatives of the company.