Gava to invest $25.62 mn to set up garment factory in Dhaka EPZ
19 Sep 22 1 min read
The company will produce 4.4 million pieces of jackets, fleece jackets, T-shirts, polo shirts, sweaters, trousers, coveralls, stretched pants, denim pants, shorts, shirts, sweatshirts, hi-vis shirts, and vests annually, according to a press release by the Bangladesh Export Processing Zone Authority (BEPZA).
Gava has also signed an agreement to purchase A-One BD, a knitting factory of the DEPZ that was shut down due to business downturn. Gava will purchase it through the auction process of the BEPZA.
Ali Reza Mazid, member (investment promotion) of BEPZA and Prasanna Kumar Jayasinghe, director of Gava Private Limited, signed an agreement to this effect on behalf of their respective organisations at BEPZA Complex, Dhaka, added the release.
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- Inflation in Bangladesh rises to 9.89% in May from 9.74% in April
- Bangladesh RMG makers seek continuation of cash support
- Bangladesh receives $3.004 bn in FDI in 2023, a decrease of 14% YoY
BEPZA executive chairman major general Abul Kalam Mohammad Ziaur Rahman witnessed the agreement signing ceremony.
Fibre2Fashion News Desk (NB)
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