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Yet another foreign investment on its way to Karnaphuli EPZ
21
Jul '08
Two Taiwanese footwear companies, La Luna Shoes (BD) Limited and Sheng Tseng Enterprises Company Ltd have shown their interest for setting up their respective manufacturing units in the extension area (CSD) of Karnaphuli Export Processing Zone.

Together the companies intend to invest US $28.15 million for installing plants here.

La Luna Shoes (BD) Limited, a 100 percent foreign-owned company plans to produce here around 2,500,000 pairs of shoes of various types, annually. Investment for this project will reach around US $19.83 million. This will create job opportunities for near about 2,340 Bangladeshis and 115 foreigners.

Sheng Tseng Enterprises Company Ltd will set up a shoe accessories and plastic products manufacturing facility, here with an investment of $8.31 million, to produce 4,000,000 pairs of shoe accessories, outsole and plastic products. Around 539 Bangladeshi and 9 foreign nationals are expected to get employment in this plant.

An official source from the Karnaphuli EPZ informed Fibre2fashion, “Total 8 Plots have been assigned for the above investment. Each measuring approximately 2000 square meters.”

Recently, an agreement to this effect was inked between the Bangladesh Export Processing Zones Authority (BEPZA) and these two companies, in BEPZA Complex, Dhaka. Mr Prasanta Bhushan Barua, Member (Investment Promotion) of BEPZA and Chiu Po Yu, Managing Director of La Luna Shoes (BD) Limited were present on behalf of their respective organizations.

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