A contract to invest $28 million in BEPZA Economic Zone has been signed by M/s Nova Intima Limited, a manufacturer of women’s undergarments with ownership in both Hong Kong and the British Virgin Islands (BEPZA EZ).
According to a news statement cited by BSS, eleven companies, including M/s Nova Intima, have signed agreements with BEPZA to build industries in BEPZA EZ with a total investment of $243.71 million.
At the BEPZA Complex in Dhaka on Monday, Ali Reza Mazid, Member (Investment Promotion) of BEPZA, and Vijay Uttam, Managing Director of Nova Intima Limited signed the agreement on behalf of their respective organizations in the presence of Major General Abul Kalam Mohammad Ziaur Rahman, Executive Chairman of Bangladesh Export Processing Zones Authority (BEPZA).
M/s Nova Intima Limited will create 60 million units of women’s underwear per year, together with the materials and accessories needed to make them. In this factory, 5,625 citizens of Bangladesh will have employment chances. Notably, the same owner has two further businesses in Chattogram and Karnaphuli EPZ that have invested about $ 22 million to produce women’s underwear. There are approximately 6,000 Bangladeshi nationals employed in these factories.