The New Nation - Internet Edition

BUSINESS REPORT

Rashid Composite Textile Limited, a joint venture company between Canada and Bangladesh, will set up a knit composite garment manufacturing industry in the Adamjee Export Processing Zone.

This jointly owned company will invest US$10.841 million and will produce 375,000 dozens of Polo Shirt, T-Shirt, Knit Trouser and Children Wear items. The company will also create employment opportunity for 511 Bangladeshi nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and the Rashid Composite Textile limited in BEPZA Complex, in the city on March 17 last.

General Manager (Investment Promotion) of BEPZA and Managing Director of Rashid Composite Textile Limited signed the lease agreement on behalf of their respective organizations.

The Executive Chairman of BEPZA and other officials were present on the occasion.