The Ayurvedia Pharmacy (Dacca) Ltd (AP) will invest $7.18 million on a three-acre land inside Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chattogram.

The company will manufacture foodstuffs, Ayurvedic healthcare and personal care products and create job opportunities for 300 people, according to a statement.

Md Mozibor Rahman, executive member for investment development at Bangladesh Economic Zones Authority (Beza), and Raquib Mohammad Fakhrul, chairman of AP, signed a land lease agreement in this regard at Beza's office yesterday.

Established in 1912, this leading ayurvedic and herbal product manufacturing company has been doing business in Bangladesh with reputation.

After signing the agreement, Sheikh Yusuf Harun, Beza's executive chairman, said the investment of AP, a trusted name in the herbal world, was creating investment opportunities in new sectors at BSMSN.