China’s KPST Shoes will establish a shoe accessories manufacturing industry in the BEPZA Economic Zone (BEPZA EZ). This fully foreign owned company will invest $8.07 million where 2,650 Bangladeshi nationals will get employment opportunities. The company will produce annually 30 million pairs of insole, outsole and midsole and 0.3 million cubic meters EVA and PU Foam.
The dependency on import of the materials of export oriented shoe industries of the country will be decreased by the operation of the factory.
Ali Reza Mazid, member (investment promotion) of Bangladesh Export Processing Zones Authority (BEPZA) and LUO Zhexian, managing director of KPST Shoes have signed an agreement to this effect on behalf of their respective organisations.
Mentionable, including KPST Shoes, BEPZA approved a total 12 enterprises to establish industries in BEPZA EZ, the largest venture of BEPZA. The total proposed investment of these enterprises is $251.78 million, BEPZA said in a press release.
Among others, member (engineering) Mohammad Faruque Alam, member (finance) Nafisa Banu, executive director (admin) Zakir Hossain Chowdhury, project director of Hafizur Rahman, executive director (investment promotion) Tanvir Hossain and executive director (enterprise services) Khorshid Alam were present during the signing ceremony.