Canada-Bangla JV to set up a knit garment facility at Adamjee EPZ

March 25, 2008 - Bangladesh

Joint venture between Canada-Bangladesh in the name & style M/s. Rashid Composite Textile Limited is going to set up a Knit Composite Garments Manufacturing Industry in the Adamjee Export Processing Zone.

This jointly owned company will invest US$ 10.841 million and will manufacture annually 3 lakh 75 thousand dozens of Polo shirt, T-shirt, Knit Trouser & Children Wear from Knitted Dyed fabrics. The company will create employment opportunity for 511 Bangladeshi nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and the M/s. Rashid Composite Textile Limited in Dhaka (02-09-2007).

Mr. Prasanta Bhushan Barua, Member (Investment Promotion) of BEPZA and Mr. Ali Bakhtiar Mahmud, Managing Director of Rashid Composite Textile Limited have signed the lease agreement on behalf of their respective organizations.

Among others Brig. General Ashraf Abdullah Yussuf, Executive Chairman, Member (Finance) Mr. A.K.M. Mahbubur Rahman, General Manager (Investment Promotion) Mr. A.Z.M. Azizur Rahman and Manager (Industrial Relations) Mr. Md. Abdus Sobhan of BEPZA were present at the signing ceremony.