Sri Lankan and Bangladeshi companies will establish two industrial units in Karnaphuli Export Processing Zone with an investment of US$ 7.845 million.

The two joint venture plants will be known as M/s Shore to Shore (Bangladesh) Ltd and M/s Yunusco K Textile Ltd.

M/s. Shore to Shore (Bangladesh) Ltd, which will invest US$ 5.106 million, will annually manufacture 11.7 million dozens of woven label, nine million dozes of printed fabric label and 15 million dozes of hang tag including different types of label, sewing ticket and barcode sticker.

This company will create employment opportunity for 198 Bangladeshi and two foreign nationals.

Another unit of this company M/s Yunusco K Textile Ltd will invest US$ 2.739 million and will also produce annually 5.85 million dozens of woven label, 6 million dozes of printed fabric label and 7.5 million dozes of hang tag.

Some 104 Bangladeshi and only one foreign national will get employment opportunity in this company.

Two agreements, to this effect, were signed between the Bangladesh Export Processing Zones Authority and the M/s Shore to Shore (Bangladesh) Ltd and M/s Yunusco K Textile Ltd here on Monday.

Member (Investment Promotion) of BEPZA Prasanta Bhushan Barua and Managing Director of Shore to Shore (Bangladesh) Ltd, and Yunusco K Textile Ltd Yunus Ahmed signed the lease agreements on behalf of their organisations.