Pacific Jeans Group to invest $55m in Adamjee EPZ

M/s. Pacific Denimwear Limited, a sister concern of Pacific Jeans Group, is going to invest US$ 54.55 million to set up a Readymade Garments (RMG) manufacturing industry in Adamjee EPZ.

This will be the 9th venture of Pacific Jeans Group in EPZs under BEPZA, said a press release.

At present, 8 enterprises of this group are successfully operating their business in Chattogram EPZ. The Pacific Denimwear Limited will be the first enterprise of this group to operate outside the Chattogram EPZ.

BEPZA recently signed an agreement with Pacific Denimwear Limited in this regard at BEPZA Complex in the city.

Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Syed Mohammed Tanvir, Managing Director of Pacific Denimwear Limited inked the agreement on behalf of their respective organizations.

The Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.

This local owned company will produce annually 12.5 million pieces of Ladies Top, 12.5 million pieces of Men’s/Women’s Formal & Casual Wear and 3.1 million pieces of Boys’/Girls’ Casual Wear. The company will create employment opportunity for 7,970 Bangladeshi nationals.

Among others, Member (Engineering) Mohammad Faruque Alam, Executive Director (Administration) A N M Foyzul Haque, Executive Director (Investment Promotion) Md. Tanvir Hossain, Executive Director (Enterprise Services) Md. Khorshid Alam and Executive Director (Public Relations) A.S.M. Anwar Parvez along with representative of the enterprise were present during the signing ceremony.