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6 November, 2019 00:00 00 AM
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Chinese group to invest $140m in BSMSN

BSS, Dhaka

Yabang Investment Holding Group, one of the largest Chinese 100 companies, is set to invest around US140 million in Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) at Mirsarai, Sitakundu and Sonagazi upazillas under Chattogram and Feni districts.

In this regard, the group has already submitted a proposal with the Bangladesh Economic Zones Authority (BEZA) for 100 acres of developed land under annual rental basis to set up a dying chemicals factory.

Talking to BSS, a senior official of BEZA informed that the members of the investment evaluation committee have recommended allocating 100 acres land in favour of the Yabang Investment Holding Group.

Though the factory will be export oriented, he said, the group will play a vital role to reduce import of chemicals.

Deputy Director of the Yabang Investment Holding Group Wei Zhu said the company has a big plan to invest more in Bangladesh as its government is providing all sorts of supports for investment.

“We have over 30 products, especially dyes and paints, pigments, pharmaceuticals, veterinary, drugs, photovoltaic and mining. Yearly turnover of our company is around $10 billion. We are starting our investment through setting up a chemical factory,” he added.

He said the country’s garments industry has been increasing dramatically and so, the market of chemicals is here.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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