Nova Intima to invest $28 million in BEPZA economic zone

Nova Intima Limited, a ladies' undergarments manufacturing company owned by Hong Kong-British Virgin Island, will invest $28 million in BEPZA Economic Zone.

To this end, the company signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) today.

Ali Reza Mazid, investment promotion member of BEPZA, and Vijay Uttam, managing director of Nova Intima Limited, signed the agreement at BEPZA Complex in Dhaka, BEPZA said in a press release.

BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was also present there.

As per the agreement, Nova Intima will produce annually 60 million units of ladies' undergarments, fabrics and accessories for producing those undergarments.

This investment will create employment opportunities for 5,625 Bangladeshi nationals, according to the press release.

With this, a total of total 11 companies have signed agreements with BEPZA to establish industries in BEPZA EZ by investing $243.71 million.