South Korean company HKD Bangladesh Limited is going to establish tents, tent accessories, camping furniture and camping equipment manufacturing industry in the Bepza Economic Zone.
It will invest $35.03 million where 6,650 Bangladeshi nationals will get employment opportunities, read a press release by the Bangladesh Export Processing Zones Authority (Bepza).
Ali Reza Mazid, member (Investment Promotion) of Bepza, and Chul Hee Kim, chief operating officer (COO) of HKD Bangladesh Limited, signed an agreement on behalf of their respective organisations on Thursday at the Bepza Complex in Dhaka.
Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was present at the agreement signing ceremony.
The company will produce annually 18.8 million pcs of tents, backpacks, bags, steel poles, fibre glass poles, travellers' bags, gazebos, screen houses, cots, pet carriers, camping furniture, chair, tables, float tube bag, wagons, tarp, trolley, purse, steel wire, walking stick, steel accessories, steel ferrule, steel peg, O-ring, D-ring, steel trips, revert, screw, washer, steel bracket, nut with washer, tent accessory, cotton blinder, wallet/purse, bag accessory and sleeping bag.
HKD is a fully foreign owned company that started its operation in 1990 in Chattogram Export Processing Zone.
HKD Bangladesh Limited would be the 5th venture of HKD Group with Bepza.
The group has four operational enterprises in Chattogram and Karnaphuli export processing zones which invested about $100 million in producing tents, camping equipment and readymade garments. Around 10,000 Bangladeshi nationals are working in those factories.
Mentionable, including HKD Bangladesh Limited, Bepza approved a total of eight companies to set up industries in the Bepza Economic Zone.
The proposed investment of the other seven companies which have already signed the lease agreement is $120.11 million where 35,000 Bangladeshis are working.
Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Public Relations) Nazma Binte Alamgir, Executive Director (Investment Promotion) Md Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam and Project Director of Bepza EZ Md Hafizur Rahman were present during the signing ceremony.