Business Desk :
UK-Bangladesh joint venture Company M/s. Evergreen Cycles Limited is going to establish a Bicycle manufacturing industry in Adamjee EPZ with an investment of $ 15.50 million.
The Company will produce 2,00,000 pcs of Adult Bicycles, Kids Bicycles, and Adult Electronic Bicycles per annum where employment opportunity will be created for 71 Bangladeshi nationals, said a press release.
Regarding this, an agreement to this effect has signed between Bangladesh Export Processing Zones Authority (BEPZA) and M/s. Evergreen Cycles Limited at BEPZA Complex in the city recently.
Md. Mahmudul Hossain Khan, Member (Investment Promotion) of BEPZA and Sanaul Haque Babul, Managing Director of Evergreen Cycles Limited inked this deal on behalf of their respective organizations. Major General SM Salahuddin Islam, Executive Chairman, Mohammad Faruque Alam, Member (Engineering), Md. Zakir Hossain Chowdhury, Secretary, Md. Tanvir Hossain, General Manager (Investment Promotion) of BEPZA were present.
