Italian and Irish-backed Deltaport Footwear Limited will invest $21.6 million to set up a footwear factory at the Bangladesh Export Processing Zones Authority (BEPZA) Economic Zone in Mirsharai, Chattogram.<\/p>\n
A land lease agreement signed recently formalised the investment. BEPZA executive director (investment promotion) Mohammad Tanvir Hossain and Deltaport Footwear Limited chief executive officer Junaid Iqbal Umerani signed the agreement.<\/p>\n
Italian and Irish-backed Deltaport Footwear will invest $21.6 million to set up a footwear factory at the Bangladesh Export Processing Zones Authority Economic Zone in Mirsharai, Chattogram.
\nThe unit will have an annual production capacity of around 3 million pairs.
\nThe factory is expected to create 468 jobs and generate annual export earnings of about $37.5 million.<\/p>\n
The company will manufacture a wide range of footwear products, including injected, cemented, casual, formal, ladies’ and safety shoes, with an annual production capacity of around 3 million pairs.<\/p>\n
The factory is expected to create 468 jobs and generate annual export earnings of about $37.5 million by supplying products to Europe, the United States and Colombia.<\/p>\n
The project marks the company’s third investment in Bangladesh, all of which are located in BEPZA-administered zones, domestic media outlets cited Umerani \u00a0as saying.<\/p>\n
The company had considered several destinations, including India and Vietnam, for its regional expansion, but chose Bangladesh because of BEPZA’s investment-friendly environment, reliable infrastructure, professional services and the firm’s positive experience since its first investment at Cumilla EPZ in 2013, he added.<\/p>\n
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Fibre2Fashion News Desk (DS)<\/p>\n
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