Chinese company Alpen Banyan Garments BD Company Ltd will invest $108.99 million to set up a woven and knit garments factory inside Bepza Economic Zone.

It will be the highest ever investment proposal coming from a single company for establishing industries inside the zone, the Bangladesh Export Processing Zones Authority (Bepza) said in a statement.

The factory will be established on 90,000 square metres of land and it targets to annually produce 43 million pieces of woven and knit garments.

The company will create employment opportunities for 11,995 Bangladeshi nationals, the Bepza said.

Md Ashraful Kabir, member for investment promotion at the Bepza, and Li Tianning, director of Alpen Banyan Garments BD Company Ltd, signed an agreement in this regard at the Bepza Complex in Dhaka today.

Major General Abul Kalam Mohammad Ziaur Rahman, executive chairman of Bepza, thanked Alpen Banyan for choosing Bepza economic zone as its investment destination.

Rahman welcomed investment for Bepza from readymade garments and textile sector and encouraged businesses to invest more in diversified sectors like automobile, electronics and electrical and information technology products.

Investors from home and abroad gave positive responses for the Bepza EZ, the largest venture of Bepza located at Mirsharai in Chattogram, he said.

Some 29 companies have so far signed agreements to invest $688 million in the economic zone.

In addition to readymade garments and textiles, these companies are supposed to produce diversified products such as footwear and footwear accessories, tents and camping equipment, hair care products and accessories, lubricating oil and disposable cutlery.

Three companies of the Bepza EZ have already started their commercial production while three more are expected to make their first export by this year.