Chinese company Bangladesh Prothoma Power Supply Ltd will invest $12.24 million to establish a battery plate manufacturing industry inside Bepza Economic Zone.
The company will produce 208 million pieces of battery plates per year for export, Bangladesh Export Processing Zones Authority (Bepza) said in a statement.
For all latest news, follow The Daily Star’s Google News channel. The project is expected to create employment opportunities for 600 Bangladeshi nationals, according to a press release.
Leiming Jia, managing director of Bangladesh Prothoma Power Supply Ltd, signed an agreement in this regard with Ashraful Kabir, member for investment promotion at the Bepza, at Bepza Complex in Dhaka today.
Major General Abul Kalam Mohammad Ziaur Rahman, Bepza executive chairman, welcomed the Chinese company’s decision to invest in Bangladesh, particularly in the Bepza Economic Zone.
Rahman thanked Bangladesh Prothoma for producing this kind of diverse product in the economic zone that aligns with Bepza’s objective to foster industrial diversity and economic growth in the country.
“We assure you of Bepza’s full support in setting up and running operations smoothly in the Bepza EZ,” he said.
The managing director of Bangladesh Prothoma expressed his gratitude to Bepza for the opportunity to establish a factory in the zone.
“We will start operations of our factory in Bepza EZ within the shortest possible time.”
“We believe that Bangladesh has immense potential and we look forward to a long-term partnership with the Bepza,” Jia said.
Bepza Economic Zone is the largest venture of Bepza.
With today’s agreement, the Bepza has signed lease agreements with 37 companies, with a combined investment of $880.74 million.