India-Bangladesh
India-Bangladesh joint venture to set up garment accessories and bag manufacturing unit
New Delhi: India-Bangladesh joint venture company Khyaati Leather Innovations BD Limited has signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to establish a garments accessories and bags manufacturing unit in Ishwardi EPZ, at Pakshay in Pabna district of Bangladesh, with an investment of USD 2.95 million, reports BSS.
Member (investment promotion) of BEPZA Md Mahmudul Hossain Khan and chairman of Khyaati Leather Pravin Satyapal Uppal signed the pact, according to a media release.
The company will produce annually 40-50 million pieces of back patches- paper, leather, heat seal labels, silicon labels, belts, printed fabrics, buttons, rivets, metal/ plastic ids, metal, and plastic eyelets, lock-pins, besides hanging accessories, fabric label, hoe sole, shoe upper, bags, all types of fashionable tapes and fabric belts.
The unit will create employment opportunities for 116 Bangladeshi nationals.
Established in 2001, Ishwardi EPZ has 290 industrial plots.
Most of the foreign investments have come from South Korea, India, China, Japan, Hong Kong and the Marshall Islands, according to a Daily Star report.
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