Pacific Jeans Group to invest $55m in Adamjee EPZ
Economy
Pacific Denimwear Limited, a sister concern of Pacific Jeans Group, is going to invest $54.55 million to set up a garment factory in the Adamjee Export Processing Zone.
This will be Pacific Jeans Group's ninth venture in EPZs under the Bangladesh Export Processing Zones Authority (Bepza). At present, eight enterprises of this group are operating their business in the Chattogram EPZ.
Pacific Denimwear will be the first enterprise of this group to operate outside the Chattogram EPZ, said a Bepza press release on Sunday.
Bepza signed an agreement with Pacific Denimwear regarding the investment at the Bepza Complex, Dhaka on 21 December.
Ali Reza Mazid, member (investment promotion) of Bepza, and Syed Mohammed Tanvir, managing director of Pacific Denimwear, signed the agreement on behalf of their respective organisations.
Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was present at the signing event.
The company will annually produce 12.5 million pieces of ladies' tops, 12.5 million pieces of men's and women's formal and casual wear, and 3.1 million pieces of boys' and girls' casual wear.
The company will create employment opportunities for 7,970 people, according to Bepza.
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