Italian-Irish venture to set up footwear factory in Bangladesh

Italian and Irish-backed Deltaport Footwear Limited will invest $21.6 million to set up a footwear factory at the Bangladesh Export Processing Zones Authority (BEPZA) Economic Zone in Mirsharai, Chattogram.A land lease agreement signed recently formalised the investment. BEPZA executive director (investment promotion) Mohammad Tanvir Hossain and Deltaport Footwear Limited chief executive officer Junaid Iqbal Umerani signed the agreement.

Italian and Irish-backed Deltaport Footwear will invest $21.6 million to set up a footwear factory at the Bangladesh Export Processing Zones Authority Economic Zone in Mirsharai, Chattogram.
The unit will have an annual production capacity of around 3 million pairs.
The factory is expected to create 468 jobs and generate annual export earnings of about $37.5 million.

The company will manufacture a wide range of footwear products, including injected, cemented, casual, formal, ladies’ and safety shoes, with an annual production capacity of around 3 million pairs.

The factory is expected to create 468 jobs and generate annual export earnings of about $37.5 million by supplying products to Europe, the United States and Colombia.

The project marks the company’s third investment in Bangladesh, all of which are located in BEPZA-administered zones, domestic media outlets cited Umerani  as saying.

The company had considered several destinations, including India and Vietnam, for its regional expansion, but chose Bangladesh because of BEPZA’s investment-friendly environment, reliable infrastructure, professional services and the firm’s positive experience since its first investment at Cumilla EPZ in 2013, he added.

Fibre2Fashion News Desk (DS)