The Karnaphuli Export Processing Zone (EPZ) in Bangladesh will soon see setting up of an Industrial Sewing Thread Industry (ISTI) by a foreign owned company, American & Efird Inc(Bangladesh) Ltd.
The project to be jointly sponsored by America and Sri Lanka will involve an investment of US $7.222 million and on completion, the unit is expected to manufacture 13 million cones of thread.
After making a detailed research on issues like cost of labor, availability of raw material and other pre-requisites for establishing a unit, the company finally opted for Bangladesh as the most promising ground for hosing the project.
The sewing thread industry is likely to create employment opportunities for nearly 115 Bangladeshi nationals. The deal was sanctioned by Bangladesh Export Processing Zones Authority and American & Efird (Bangladesh) Ltd at Dhaka on November 27.
Apart from Prasanta Bhushan Barua, Member of BEPZA and Shafraz Meezan, Chief Operating Officer of American and Limited, those present at the signing ceremony included Ashraf Abdullah Yussuf, Brigadier General; Md. Farhad Uddin, Executive Chairman, Member (Engineering); Azizur Rahman, General Manager (Investment Promotion) AZM; Md. Tanvir Hossain, Manager (Investment Promotion) and Khadiza Parvin Assistant Manager of BEPZ.
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
