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Chinese company to invest $7.29m in CEPZ

Member (Investment Promotion) of BEPZA Sayed Nurul Islam and Managing Director of Glen Stationary (Bangladesh) Yao Chang Yin exchanging documents after signing an agreement on behalf of their respective organisations in the city Sunday (27 April 2014)

Member (Investment Promotion) of BEPZA Sayed Nurul Islam and Managing Director of Glen Stationary (Bangladesh) Yao Chang Yin exchanging documents after signing an agreement on behalf of their respective organisations in the city Sunday (27 April 2014)

Glen Stationary (Bangladesh) Limited, a Chinese company, will set up a ballpoint pen manufacturing industry in Chittagong Export Processing Zone (CEPZ) investing US$7.29 million.

In this connection, an agreement was signed between Bangladesh Export Processing Zones Authority (BEPZA) and M/s Glen Stationary (Bangladesh) in the city Sunday, said a press release.

Member (Investment Promotion) of BEPZA Sayed Nurul Islam and Managing Director of Glen Stationary (Bangladesh) Yao Chang Yin signed the agreement on behalf of their respective organisations.

The 100 per cent foreign-owned company will be setting up with an annual production capacity of 150 million pieces ballpoint pen.

The company will also create employment opportunity for 518 Bangladeshi nationals.

Among others, Executive Chairman of BEPZA Major General Mohd Habibur Rahman Khan, ndc, psc, was present at the deal signing ceremony.

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Source: Financial Express

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