Deltaport Footwear to invest $21.60m in Bepza economic zone

Deltaport Footwear Ltd, a joint venture of Italian and Irish investors, will invest $21.60 million to set up a footwear manufacturing plant at the Bepza Economic Zone in Mirsharai, Chattogram, run by the Bangladesh Export Processing Zones Authority (Bepza).

The plant will make around three million pairs of injected, cemented, casual, formal, ladies' and safety shoes a year, creating jobs for 468 Bangladeshi nationals.

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The company expects annual export earnings of about $37.5 million, targeting markets in Italy, Europe, the UK, the US and Colombia.

The company signed a land lease agreement with Bepza on June 30 at the Bepza Complex in Dhaka, according to a press release.

Md Tanvir Hossain, executive director for investment promotion at Bepza, and Junaid Iqbal Umerani, chief executive officer of Deltaport Footwear, signed a deal in this regard at a programme attended by Mohammad Moazzem Hossain, executive chairman of Bepza.

Welcoming the investment, Hossain said Bepza was continuously enhancing its infrastructure and services to offer investors a more convenient, modern and business-friendly environment.

The Deltaport’s CEO said this was his company’s third investment in Bangladesh, all within Bepza-administered zones, adding that Bangladesh offered the most attractive destination among the options considered, including India and Vietnam.