Ayurvedia Pharmacy to invest $7.18m in Bangabandhu Shilpa Nagar
About 300 people are expected to be employed in its factory there.
Ayurvedia Pharmacy (Dacca) Limited will invest $7.18 million to manufacture Ayurveda healthcare, personal care, and food products at Bangabandhu Sheikh Mujib Shilpa Nagar.
The company has leased 3 acres of land at the industrial city to set up a factory where about 300 people will be employed.
The investors signed a land-lease agreement with the Bangladesh Economic Zones Authority (Beza) at the latter's office on Wednesday, said a press release.
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Beza Executive Member (Investment Development) Md Mozibor Rahman and Ayurvedia Pharmacy Chairman Raquib Mohammad Fakhrul signed the agreement.
Established in 1992, this leading ayurvedic and herbal product manufacturing company has been doing business with a good reputation. Apart from medicines, the company manufactures food and cosmetics.
Beza Executive Chairman Shaikh Yusuf Harun said, "Ayurvedia Pharmacy is a trusted name in the herbal world. Bangabandhu Shilpa Nagar is creating investment opportunities in new sectors."
"Once the establishment of the South Asia's largest economic zones and industrial cities in Chattogram is completed, the country will achieve an unprecedented industrialisation revolution. With this, the goals of sustainable development will be met along with increasing the standard of living of the people," he said.
Ayurvedia Pharmacy Chairman Raquib Mohammad Fakhrul said his company will produce various Ayurvedic products, keeping its reputation intact.
He sought the cooperation of all departments of the government for business expansion.
The country's largest industrial city, the Bangabandhu Sheikh Mujib Shilpa Nagar, is being constructed in an area of 33,000 acres of land in Mirsarai and Sitakunda upazilas of Chattogram and Sonagazi upazila of Feni.
According to Beza, about $19 billion in domestic and foreign investment proposals have been approved in this industrial city so far. Following this, four companies have already started production. Another 15 industrial establishments have started setting up industries. Employment opportunities for about eight lakh people will be created in this industrial city.
