Hong Kong-based firm Lugang Technology to invest $23m in Ishwardi EPZ

Lugang Technology (Bangladesh) Ltd, a Hong Kong (China) owned company is going to establish a textile industry in Ishwardi Export Processing Zone (IEPZ).

This fully foreign-owned company will invest $22.99 million and 3,182 Bangladeshi nationals will get employment opportunities. The company will produce annually 5,100 tonnes of raw and dyed yarn, reads a press release.

Ali Reza Mazid, member (Investment Promotion) of Bepza and Ding Feng, vice general manager of Lugang Technology (Bangladesh) signed an agreement to this effect on behalf of their respective organisations on Wednesday (16 November) at Bepza Complex, Dhaka. Bepza Executive Chairman Maj Gen Abul Kalam Mohammad Ziaur Rahman, witnessed the agreement signing ceremony.

Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Administration) Md Zakir Hossain Chowdhury, Executive Director (Investment Promotion) Md Tanvir Hossain and Additional Executive Director (Public Relations) Anwar Parvez from Bepza along with representatives of the enterprise were present during the signing ceremony.