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 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Johan Berlin
InvestKonsult Sweden AB

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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