Singapore-India owned tobacco company to invest $9.24m in Bepza EZ to manufacture export-oriented cigarettes
Under the agreement, the company will invest $ 9.24 million to produce 9 billion cigarette sticks annually, creating employment opportunities for 127 Bangladeshi nationals
The Bangladesh Export Processing Zones Authority (Bepza) has signed a lease agreement with Allied Tobacco Company Limited, a Singapore-India-owned company, to establish a 100% export-oriented cigarette manufacturing industry in the BEPZA Economic Zone (EZ).
Under the agreement, the company will invest $ 9.24 million to produce 9 billion cigarette sticks annually, creating employment opportunities for 127 Bangladeshi nationals, reads a Bepza press statement issued today (13 March).
The agreement was signed today at the Bepza Complex in Dhaka by Md Imtiaz Hossain, Member (Engineering & Investment Promotion – Additional Charge) of Bepza, and Tay Yong Sheng Edwin, Managing Director of Allied Tobacco Company Limited. Bepza Executive Chairman, Major General Abul Kalam Mohammad Ziaur Rahman, BSP, ndc, psc, witnessed the signing ceremony.
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The executive chairman expressed his appreciation to Allied Tobacco Company Limited for investing in Bepza EZ and assured the company of full support to ensure smooth business operations.
The signing ceremony was attended by senior Bepza officials, including Member (Finance) ANM Foyzul Haque, executive director (Investment Promotion) Md Tanvir Hossain, executive director (Admin) Md Tazim-Ur-Rahman, executive director (Public Relations) ASM Anwar Parvez, and representatives from Allied Tobacco Company Limited.
