The Bangladesh Export Processing Zones Authority (BEPZA) has signed a lease agreement with Allied Tobacco Company Limited, a Singapore-India joint venture, to set up a 100% export-oriented cigarette manufacturing industry in the BEPZA Economic Zone (EZ).

Under this agreement, the company will invest $9.24 million to manufacture 9 billion cigarette sticks annually, according to a BEPZA press statement issued on March 13. This will create 127 jobs for Bangladeshi nationals.

The agreement was formally signed at the BEPZA Complex in Dhaka by Md Imtiaz Hossain, Member (Engineering & Investment Promotion – Additional Charge) of BEPZA, and Tay Yong Sheng Edwin, Managing Director of Allied Tobacco Company Limited.

The signing was witnessed by Major General Abul Kalam Mohammad Ziaur Rahman, BSP, ndc, psc, the Executive Chairman of BEPZA, who expressed his appreciation for the investment and assured the company of full support for smooth business operations.

Senior BEPZA officials present at the event included ANM Foyzul Haque, Member (Finance), Md Tanvir Hossain, Executive Director (Investment Promotion), Md Tazim-Ur-Rahman, Executive Director (Admin), ASM Anwar Parvez, Executive Director (Public Relations), and representatives from Allied Tobacco Company Limited.