;
Home / Knowledge / News / Textiles / Adamjee draws investment from Newtop Textile
Adamjee draws investment from Newtop Textile
21
Jan '08
Adamjee Export Processing Zone, country's seventh EPZ venture, added another success feather to its cap after being able to lure investment from Newtop Textile BD Limited from Hong Kong for setting up a textile plant here.

An agreement was inked on January 13, between the Bangladesh Export Processing Zones Authority (BEPZA) and the Newtop Textile BO Ltd.

Prasanta Bhushan Barua, Member (Investment Promotion) of BEPZA and Tang Qun, Managing Director, Newtop Textile BD Ltd signed the lease agreement.

Brigadier General Ashraf Abdullah Yussuf, Executive Chairman, AZM Azizur Rahman, General Manager (Investment Promotion) were among the BPEZA members present during the accord inking ceremony.

“Investments from abroad will lend a hand to strengthen country's economic position in the global market and this new textile facility of Newtop Textile BD Ltd is among them,” Brigadier General Ashraf Abdullah Yussuf, Executive Chairman BPEZA told Fibre2fashion.

While talking about other investments pouring in Adamjee EPZ, the Brigadier General said, “In recent period about 25 companies have financed for setting up facilities in Adamjee EPZ.”

The textile plant is 100 percent foreign owned. The investment is expected to reach up to US $25.531 million and when in full operations, the factory is likely to produce 32,500 yards fabrics, annually. Around 842 local people and 4 foreign nationals are going to get employed in this facility.

Fibre2fashion News Desk - India


Must ReadView All

Bangladesh jute industry at risk due to old technology

Textiles | On 18th Dec 2018

Bangladesh jute industry at risk due to old technology

Bangladesh’s jute industry is losing productivity and competitiveness ...

Cotton trading pace slows down in Brazilian market

Textiles | On 18th Dec 2018

Cotton trading pace slows down in Brazilian market

With the low quality of the batches available in the Brazilian market ...

Courtesy: Destination Maternity

Apparel/Garments | On 18th Dec 2018

Destination Maternity reports sales of $92.8 mn in Q3

Destination Maternity Corporation, the world’s leading maternity...

Interviews View All

Hannah Lane, Redress

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Dinaz Madhukar, DLF Emporio and DLF Promenade

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Tom,

Tom

<div>Inkbank is a leading supplier of inkjet inks and inkjet printing...

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search