Rosin Exports Limited will invest about $10 million to build a denim manufacturing plant in the Jamalpur Economic Zone, a project expected to create around 800 jobs as Bangladesh expands industrial activity outside major urban centres.
Bangladesh Economic Zones Authority (BEZA) signed a land lease agreement with the company for the project, according to a press release issued Wednesday.
Under the agreement, the factory will be built on five acres of land in the Jamalpur Economic Zone and will produce various types of denim products.
Founded in 2005, Rosin Exports Limited is engaged in knit garment manufacturing and export operations and already operates another factory in Jamalpur district.
The company employs around 10,000 workers across its operations.
“Investment by domestic industrial groups in the Jamalpur Economic Zone will play an important role in increasing export earnings and promoting technology-driven industrialisation,” said BEZA Executive Member Investment Promotion Saleh Ahmed.
He said BEZA would continue providing necessary support to ensure a favourable investment environment and urged the investor to complete the factory quickly.
“We are preparing to establish a modern and environmentally friendly industrial facility in the Jamalpur Economic Zone with BEZA’s cooperation,” said Rosin Exports Limited Managing Director SM Shahinuzzaman.
He added that the company has already been working to develop skilled manpower in the knitwear sector in Jamalpur.
The lease agreement was signed by Government Additional Secretary and BEZA Executive Member Investment Promotion Saleh Ahmed on behalf of the authority and Rosin Exports Limited Managing Director SM Shahinuzzaman on behalf of the company.
The Jamalpur Economic Zone is the first government economic zone under implementation in Mymensingh division, with a proposed area of about 436 acres.
Once fully developed, the zone is expected to generate employment for around 32,000 people.
Infrastructure including gas supply lines, a 33/11 kVA power substation, administrative and dormitory buildings, land development works, a groundwater reservoir and boundary walls has already been completed in the zone.
BEZA has so far signed land lease agreements with about 20 industrial companies in the economic zone.
Three of those companies are expected to begin production soon, while nine factories are currently under construction.
