Local agro processor Kazi Badam Ltd is going set up an agro-processing industry to produce cashew nut at Bepza Economic Zone inside Bangabandhu Sheikh Mujib Shilpa Nagar.

The company will invest $17.22 million to produce 13,050 tonnes of cashew nut kernel and cashew nut shell liquid a year, according to a press release of Bangladesh Export Processing Zones Authority (Bepza).

This would be the first agro-based industry at Bepza Economic Zone, the Bepza said.

Ali Reza Mazid, member for investment promotion at Bepza, and Kazi Zahedul Hasan, chairman of Kazi Badam Ltd, signed a deal in this regard at Bepza Complex in Dhaka today where Abul Kalam Mohammad Ziaur Rahman, Bepza executive chairman, was also present.

Around 494 Bangladeshi nationals will get employment opportunity in the factory.