China-owned company M/s Xihe Textile Technology Bangladesh Ltd is planning to set up a garment manufacturing industry in Mongla EPZ with an investment of US$ 12.89 million. An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and M/s Xihe Textile Technology Bangladesh Ltd at BEPZA Complex recently.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Yang Jilai, Managing Director of Xihe Textile Technology Bangladesh Ltd signed the agreement on behalf of their respective organisations. The investment is expected to generate 2892 jobs.
This fully foreign-owned company will produce annually 5 million pieces of woven garments and 2.3 million pieces of knit garments. The company has another RMG factory – M/s Garments Manufacture JINLITE Bangladesh in Mongla EPZ.