South Korean HKD Group to invest $35 million in Bepza economic zone

South Korean company HKD Bangladesh Ltd is going to establish an industry to manufacture tent, tent accessories, camping furniture and camping equipment in Bepza Economic Zone.

The company will invest $35.03 million where 6,650 Bangladeshi nationals will get employment opportunities, Bangladesh Export Processing Zones Authority (Bepza) said in a statement today.

The company will produce annually 18.8 million pieces of  tents, backpacks, bags, steel poles, fibre glass poles, travellers' bag, gazebos, screen house, cots, pet carrier, camping furniture, chair, tables, float tube bag, wagon, tarp, trolley, purse, steel wire, walking stick, steel accessories, steel ferrule, steel peg, O-ring, D-ring, steel trips, revert, screw, washer, steel bracket, nut with washer, tent accessory, cotton blinder, wallet/purse, bag accessory ‍and sleeping bag.

HKD is a fully foreign owned company, which started its operation in 1990 in Chattogram Export Processing Zone.

HKD Bangladesh Limited would be the fifth venture of HKD group with Bepza.

The group has four operational enterprises in Chattogram and Karnaphuli EPZ, which have invested about $100 million for producing tent, camping equipment and readymade garments.

Around 10,000 Bangladeshi nationals are working in those factories, according to the statement.

Ali Reza Mazid, member for investment promotion of Bepza, and Chul Hee Kim, chief operating officer of HKD Bangladesh, signed an agreement in this effect at a programme at the Bepza Complex in Dhaka today.

BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman attended the deal signing ceremony.

Mentionable, including HKD Bangladesh Ltd, Bepza approved total eight companies to set up industries in Bepza Economic Zone.

The proposed investment of the other 7 companies which have already signed lease agreement is $120.11 million where 35,000 Bangladeshi nationals are working.

Among others, Bepza's Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Public Relations) Nazma Binte Alamgir, Executive Director (Investment Promotion) Md Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam and Project Director of Bepza Economic Zone Md Hafizur Rahman were present at the event.