Maersk building 2.1 lakh square feet warehouse in Chattogram

Danish logistics giant Maersk is building a 210,000 square feet warehouse in Chattogram to expand its capacity. The warehouse has been tailor-made to suit the needs of exporters of retail and lifestyle commodities and should be available by April 2024. In recent times, Bangladesh has seen a slight slowdown in exports owing to the ongoing geopolitical situation that has led to reduced demand for retail and lifestyle goods in the Western markets. With the demand picking up again and limited warehousing capacity in the market, Maersk aims to close the gap between higher demand and shortage of supply through this facility in Chattogram. Maersk and Ispahani Summit Alliance Terminal Limited (ISATL) had first collaborated and entered into an agreement towards the end of 2021 and within a period of 14 months, ISATL provided 200,000 square feet of export custom bonded warehouse to Maersk, according to the press release. Maersk also offers another 100,000 square feet of warehousing space in partnership with Vertex Depot, which was inaugurated earlier in February this year. Maersk also offers another 300,000 sqft of flexible warehousing capacity through local partnerships to customers in case of short-term requirements.

Source: https://www.thedailystar.net/business/economy/news/maersk-building-21-lakh-sqft-warehouse-ctg-3321206

Chinese company to invest $6 million in BEPZA Economic Zone

Chinese company Jibin Technology (BD) Co. Limited is going to set up a factory manufacturing shoe accessories in the BEPZA Economic Zone (EZ) in Mirsharai, with an investment of $6 million. Jibin Technology (BD) signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to this effect at the latter’s premises in the capital on Monday. BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc witnessed the signing ceremony. The companies are so far slated to invest $400 million to produce diversified products including traditional readymade garments.

Source: https://www.tbsnews.net/economy/chinese-company-invest-6-million-bepza-economic-zone-632498

Dhaka Bank and IPAGE Bangladesh signed agreement

Dhaka Bank Limited and IPAGE Bangladesh Limited signed an agreement on ‘Conducting Special CSR Programme and Financing in Agricultural Sector’ at the head office of the bank recently. Emranul Huq, managing director & CEO of Dhaka Bank, was present at the signing ceremony as the chief guest. Md Katebur Rahman, senior vice president & head of Agriculture Banking Unit of the bank, and Mashrur H Shurid, CEO of IPAGE Bangladesh, signed and exchanged the documents of the agreement.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/dhaka-bank-and-ipage-bangladesh-signed-agreement-1684171635