STAR BUSINESS DESK

Four companies have signed land lease agreements with the Bangladesh Export Processing Zones Authority (Bepza) to invest a total of $111.26 million in the Bepza Economic Zone at Mirsharai in Chattogram.

The firms are Tai Ma Shoes (BD) Co Ltd, Bangladesh Songshin Leather Co Ltd, Annray Holding (BD) Co Ltd and Wraptox Industries Ltd. The first three are fully foreign owned, while Wraptox Industries Ltd is a Bangladeshi company, Bepza said in a press release yesterday.

The new ventures will produce footwear, process leather, provide testing services and manufacture garment accessories.

Tai Ma Shoes (BD) Co Ltd, a Chinese company, is making the largest investment at $55.05 million. It will build a footwear factory capable of producing seven million pairs a year. The investment will create 5,900 jobs.

Based in Singapore, Bangladesh Songshin Leather Co Ltd will invest $25.03 million to set up a leather processing plant with an annual capacity of 36 million square feet of finished leather. It will employ 480 workers.

Annray Holding (BD) Co Ltd, a China Singapore joint venture, will invest $20.03 million to establish