Beza hands over 12.5 acres of land to China Lesso Group for $32m investment

The Bangladesh Economic Zones Authority (Beza) has leased 12.5 acres of land to China Lesso Group in the National Special Economic Zone, completing the formal handover.

The lease agreement was signed on 19 September 2024.

According to a press release issued today (11 August), China Lesso Group will invest approximately $32 million to produce PVC pipes, PEX pipes, solar panels, sanitary ware, kitchen equipment, doors and windows, water purifiers, waterproofing materials, fire-fighting equipment, cables, lighting, environmental protection products, and other construction materials.

The products will also be manufactured locally as part of the company's market expansion in Bangladesh.

Commenting on the handover, Beza Executive Chairman Chowdhury Ashik Mahmud Bin Harun said, "The handover marked a step towards fostering a business-friendly, innovation-driven industrial environment. He expressed hope that it would inspire further investment in the zone.

A China Lesso Group representative stated that the project would prioritise environment-friendly products, renewable energy, and related supply chains, alongside financial returns.

The Chinese manufacturing giant, which posted revenues of around $974 million in 2024, employs roughly 20,000 people worldwide and operates production facilities in Indonesia, Cambodia, Thailand, Malaysia, the Philippines, and other countries.

Beza and China Lesso Group expect the investment and ensuing job creation to boost the zone's economic significance and growth potential.

The National Special Economic Zone currently houses 15 operational industrial units, with several more under construction.