The Bangladesh Export Processing Zones Authority has signed a lease agreement with Allied Tobacco Company Limited, a Singapore-India-owned company, to establish a 100 per cent export-oriented cigarette manufacturing industry in the BEPZA Economic Zone.
According to a press release, the company will invest $9.24 million to produce 9 billion cigarette sticks annually, creating employment opportunities for 127 Bangladeshi nationals. The agreement was signed on Thursday at BEPZA Complex in Dhaka by Md Imtiaz Hossain, member (engineering and investment promotion 鈥� additional charge) of the BEPZA, and Tay Yong Sheng Edwin, MD of Allied Tobacco.
BEPZA executive chairman Major General Abul Kalam Mohammad Ziaur Rahman was present at the signing ceremony.
BEPZA member (finance) ANM Foyzul Haque, executive director (investment promotion) Md Tanvir Hossain, executive director (admin) Md Tazim-Ur-Rahman and executive director (public relations) ASM Anwar Parvez were also present along with representatives from Allied Tobacco.