Home / Knowledge / News / Apparel/Garments / BGMEA & Oriental sign MoU for new garment industrial park
BGMEA & Oriental sign MoU for new garment industrial park
19
Jun '14
BGMEA President Md. Atiqul Islam and Chief Executive Officer of the Orion Holding Tang Xiaoji signed the MoU on behalf of their respective sides in presence of Prime Minister Sheikh Hasina in Beijing on 10 June. As per the MoU, the Orion Holding will construct the garment village at Gazaria in Munshiganj district.
 
The BGMEA and Oriental International Holding, a Chinese company, have signed a billion dollar agreement to develop a new garment industrial park in Munshiganj.
 
“A memorandum of understanding has been signed with the Chinese company in the presence of Prime Minister Sheikh Hasina and her Chinese counterpart Li Keqiang,” BGMEA Vice President Reaz Bin Mahmood said.
 
BGMEA President Md. Atiqul Islam and chief executive officer of the Orion Holding Tang Xiaoji signed the MoU on behalf of their respective sides.
 
Reaz Bin Mahmood said the industrial park will be built on 470 acres of land in Gazaria at an approximate cost of $1.2 billion.
 
Under the MoU, the Chinese company will conduct a complete feasibility study within three months and a framework agreement will be signed between the two parties. “Oriental will also pay money to the government to procure the land,” he said.
 
The company will develop land, roads, power plant and necessary constructions and build structures for selling it to the members of BGMEA and BKMEA. 
 
After completion of feasibility study, within three months OIH will produce all relevant documents from their authority and financiers for financing the project and full fund for the land payment and other costs.
 
The government has allocated 470 acres of land at Baushia in Munshiganj for setting up a readymade garment industrial park.
 
It will have roads, water, power and gas supply, telecommunication, effluent treatment plant, transportations, hospital, hotel and factory sheds.
 

BGMEA


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search