Two Chinese organizations to invest $28.69m
Two Chinese businesses are set to get around Tk 244 crore, equal to $28.69 million, in Bangladesh for establishing developing units for non-woven personal shielding equipment (PPE), steel structural items and ready-mix concrete.
The duo will signal an agreement with Bangladesh Economic Zones Authority (Beza) tomorrow to take lease of land to create the factories at Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN).
Beza Executive Chairman Paban Chowdhry termed the investment a "really encouraging" development throughout a pandemic and more so for its offer of import substitutes.
This exemplifies foreign investors' confidence built up through Beza's performance and government initiatives to make a business friendly environment, he said.
Chowdhury expects at hand over the territory within half a year for the factory building to begin.
Some 10 acres will be availed by CCECC Bangladesh, a subsidiary of China Civil Engineering Construction Corporation (CCECC).
It'll invest $15.97 million, equivalent to Tk 136 crore, and employ around 350 people in making the construction items as "Mirsarai Fabrication".
Founded in 1979 and headquartered in Beijing, the CCECC is definitely considered among the world's top 255 worldwide contractors.
Its organization spreads over 101 countries for international contracts over commercial infrastructure construction such as railways, highways, bridges, dredging, airport, buildings and interface development and municipal works.
In addition, it encompasses civil engineering design and consultancy, real estate development, trading, commercial investment and hotel supervision.
CCECC Bangladesh was shaped in September 2019 to run a similar business model.
Meanwhile eight acres have already been sought by Jeihong Medical Products (BD), a subsidiary of Kunshan Jiehong Nonwoven Product Company which produces fabrics, gowns, gloves and caps.
It'll invest Tk 108 crore, equal to $12.72 million, to produce non-woven PPE goods such as for example isolation gowns, scrub suites, laboratory jackets, disposable caps, shoe covers, and shoe covers.
