Chinese firm to set up $27.8 mn sock manufacturing plant in Bangladesh

Source:China Sport ShowRelease time:27-Mar-2024Clicks:

Article From：fibre2fashion

Chinese enterprise Dongfang Knitting (BD) Co Ltd has announced a substantial investment of $27.8 million to set up a state-of-the-art sock manufacturing industry within the Bangladesh Export Processing Zone Authority (BEPZA) Economic Zone, located at Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsharai, Chattogram. The agreement to this effect was inked in a ceremony graced by the presence of BEPZA's executive chairman, Major General Abul Kalam Mohammad Ziaur Rahman.

This venture marks a significant foreign investment in Bangladesh’s growing manufacturing sector, with the facility poised to produce an impressive 216 million pairs of socks annually for men, women, and children. Additionally, the initiative is expected to generate employment for approximately 5192 Bangladeshi nationals, contributing significantly to local job creation.

The landmark deal was officially signed by Ali Reza Mazid, member (investment promotion) of BEPZA, and Fang Zhendong, managing director of Dongfang Knitting (BD) Co Ltd, at the BEPZA Complex in Dhaka, BEPZA said in a press release.