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Bangladesh's BEZA, Yabang Group sign land lease agreement

12
Aug '20
Pic: Shutterstock
Pic: Shutterstock
Bangladesh Economic Zones Authority (BEZA) recently signed a land lease agreement with China’s Jiangsu Yabang Dyestuff, a subsidiary of Yabang Investment Holdings Group Co Ltd, for providing 100 acres of developed land. The investment will help Bangladesh diversify exports and ensure technology transfer, BEZA executive chairman Paban Chowdhury said.

The Yabang Investment Holdings Group plans to invest $300 million in textile and other chemical industries in Bangladesh.

The group has submitted conceptual master plan along with implementation plan in support of infrastructure development of the project. They have also submitted 'Environment Management Plan' to address environmental issues of the project and this will be a fully foreign-owned project.

The group is likely to create employment for 2,200 and annual export will be around $146.40 million. Domestic sale is likely to be worth $97.60 million, according to bangla media reports.

The Yabang Group is one of the leading companies in the chemical sector.

Fibre2Fashion News Desk (DS)


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