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Singapore-India Firm to Invest $9.24M in BEPZA EZ
BEPZA signed agreement with Allied Tobacco to establish export-oriented cigarette industry. Photo :BEPZA
The Bangladesh Export Processing Zones Authority (BEPZA) has signed a lease agreement with Allied Tobacco Company Limited, a joint venture between Singapore and India, to establish a 100% export-oriented cigarette manufacturing facility in the BEPZA Economic Zone (EZ).
The company will invest $9.24 million to produce 9 billion cigarette sticks annually, creating job opportunities for 127 local Bangladeshi workers.
The agreement was signed today at the BEPZA Complex in Dhaka by Md. Imtiaz Hossain, BEPZA Member (Engineering and Investment Promotion - Additional Charge), and Tay Yong Sheng Edwin, Managing Director of Allied Tobacco Company Limited.
Major General Abul Kalam Mohammad Ziaur Rahman, BSP, ndc, psc, Executive Chairman of BEPZA, was present to witness the signing ceremony. He expressed his appreciation for the company’s investment in the BEPZA EZ and reassured the management of full support to ensure smooth operations and business success.
The ceremony was also attended by senior BEPZA officials, including A.N.M. Foyzul Haque (Member, Finance), Md. Tanvir Hossain (Executive Director, Investment Promotion), Md. Tazim-Ur-Rahman (Executive Director, Administration), and A.S.M. Anwar Parvez (Executive Director, Public Relations), along with representatives from Allied Tobacco Company Limited.