BANGLADESH: Chinese firm to set up $22m yarn and fabric mill
Chinese company Asia Spinning and Textile Mills Limited is investing $22m in setting up a new spinning and textile facility in north-west Bangladesh.
The plant will be in the Ishwardi Export Processing Zone in the country's Pabna district, and will employ 1,450 workers.
Its annual production capacity will be 19,000 tonnes of yarn and 6,000 yards of fabric, officials said.
"We always welcome foreign investment in different sectors including apparel and textiles," Nazma Binte Alamgir, general manager of the Bangladesh Export Processing Zones Authority (BEPZA), told just-style.
She also said the government is actively trying to attract foreign investors to Bangladesh's industry in order to stimulate the country's economic growth.
The BEPZA is the official government body to promote, attract and facilitate foreign investment in the EPZs.
There are eight EPZs in Bangladesh: Chittagong, Dhaka, Mongla, Ishwardi, Comilla, Uttara, Adamjee, and Karnaphuli.
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