28 C
Sunday, September 25, 2022

Adamjee EPZ to get $15.50m

Representative Image: Collected

With an investment of US$ 15.50 million in Adamjee EPZ, UK-Bangladesh joint venture Company, M/s Evergreen Cycles Limited, is going to establish a bicycle manufacturing industry.

The company will produce 2,00,000 pcs of adult bicycles, kids bicycles and adult electric bicycles per annum where employment opportunities will be created for 71 Bangladeshi nationals.

In presence of BEPZA Executive Chairman Major General S M Salahuddin Islam, an agreement to this effect was signed recently between Bangladesh Export Processing Zones Authority (BEPZA) and M/s Evergreen Cycles Limited at BEPZA Complex in the city, said a press release.

Member (Investment Promotion) of BEPZA Md Mahmudul Hossain Khan and Managing Director of Evergreen Cycles Limited Sanaul Haque Babul inked this deal on behalf of their respective organizations.

Among others, Member (Engineering) Mohammad Faruque Alam, Secretary Md. Zakir Hossain Chowdhury, General Manager (Public Relations) Nazma Binte Alamgir and General Manager (Investment Promotion) Md. Tanvir Hossain of BEPZA were present during this time.

Related Articles

Salman Khan-Being Human Clothing

Salman Khan’s ‘Being Human Clothing launching’ in Dhaka

Dhaka, 13 September 2022: Bollywood superstar Salman Khan owned clothing brand ‘Being Human Clothing’ launches its first outlet at Banani, Dhaka on the 15th...
Next Generation Bankers

NGGB Trust pays courtesy call to Shimanta Bank MD

Trustees of Next Generation Bankers Bangladesh (NGGB)—a platform that unites young bankers of the country for common good—on Wednesday paid courtesy visit to the...

BGMEA teams up with Jeanologia on promoting green technologies in RMG sector

Jeanologia, a globally renowned textile technology manufacturer, will join hands with Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to support Bangladesh’s RMG industry in...
Next Generation Banker of Bangladesh

First AGM of NGBB held, bankers vow to build a trust fund

Next Generation Banker of Bangladesh, a platform of young professional bankers of the country, held its first annual general meeting on Friday at the...
EPIC Group and CleanKore

EPIC Group and CleanKore Announce Bold Plans to Advance Sustainable Denim

Hong Kong based Epic Group, a leading garment manufacturer for global brands Monday (July 18) announced its strategic partnership with CleanKore, a denim innovation...
Jermatz Limited

Jermatz receives National Productivity and Quality Excellence Award 2020

Jermatz Limited, a local jute products manufacturer, has been awarded National Productivity and Quality Excellence award 2020. The Managing Director of Jermatz Limited, Ismat Jerin...