Bangladesh Export Processing Zones Authority (BEPZA) and SPS Agrotech Limited signed an agreement to this effect today at BEPZA Complex in the city. COURTESY
SPS Agrotech Limited, an Indo-Bangla joint venture company, is going to establish a rice bran oil manufacturing industry in Ishwardi EPZ with an investment of US$ 6.69 million.
This agro-based product is a new addition to the diversified items manufactured in EPZs and going to be the first rice bran oil industry in EPZs, said a press release.
The company will produce 150,000 metric tonnes of rice bran oil annually. They will create employment opportunities for 337 Bangladeshi nationals.
Bangladesh Export Processing Zones Authority (BEPZA) and SPS Agrotech Limited signed an agreement to this effect today at BEPZA Complex in the city.
Member (Finance & Investment Promotion-Additional Charge) of BEPZA NafisaBanu and Managing Director of SPS Agrotech Ltd. ChittaMajumder signed the agreement on behalf of their respective sides.
BEPZA Executive Chairman Major General MdNazrul Islam witnessed the signing ceremony.
Mentionable, the EPZs are strengthening the foundation of the country’s economy by reducing the risk of monopolistic dependence on the garment industry through diversifying products.
Recently, Prime Minister Sheikh Hasina urged to enrich the country’s export basket by establishing food and agro processing industries. Responding to the call of the Prime Minister, BEPZA is encouraging investment of this sector in the EPZs and BEPZA Economic Zone.
Among others, Secretary of BEPZA MdZakir Hossain Chowdhury, General Manager (Investment Promotion) MdTanvir Hossain and General Manager (Enterprise Services) MdKhorshidAlam were present at the signing ceremony.
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