The Belgium owned garment manufacturing company, M/S. Satexco Ltd, is going to expand its manufacturing plant in Dhaka Export Processing Zone (DEPZ), says a press release.
Satexco primarily manufactures protective clothing; bulletproof jackets, canvas tents, PVC and welded articles with an investment of 1.1 million US dollars in the DEPZ.
Some 200 Bangladeshi nationals are currently working for the company, while the expansion will create 300 more jobs.
An agreement to this effect was signed yesterday between Satexco and Bangladesh Export Processing Zones Authority (BEPZA).
BEPZA Member (Investment Promotion) Prasanta Bhusan Barua and Satexco Country Manager Iqbal Hossain signed the agreement on behalf of their organisations.
Among others, BEPZA Executive Chairman Brig General Ashraf Abdullah Yussuf, Member (Finance) Masud Ahmed and Member (Engineering) Abu Reza Khan were present.
