Gava to invest $25.62 mn to set up garment factory in Dhaka EPZ

19 Sep '22

1 min read

Pic: Shutterstock/ Sk Hasan Ali

Gava Private Limited, Hong Kong-Sri Lanka-Switzerland owned company, is set to make an investment of $25.62 million to establish a garments manufacturing industry in the Dhaka Export Processing Zone (DEPZ) in Bangladesh. The project is expected to provide employment opportunities to 3,086 Bangladeshi nationals.

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.

BEPZA executive chairman major general Abul Kalam Mohammad Ziaur Rahman witnessed the agreement signing ceremony.

Fibre2Fashion News Desk (NB)

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