Sri Lanka apparel maker to invest US14mn in Bangladesh unit

July 16, 2011 (LBO) – Sri Lanka’s Brandix apparel group, will invest 14 million US dollars in a garment manufacturing unit in Bangladesh’s Comilla export processing zone, a media report said. It has also invested in India, where the group runs a 1,000 acre industrial estate, Brandix India Apparel City in Visakhapatnam in the eastern state of Andhra Pradesh. Brandix Apparel Bangladesh Limited will employ 2,377 workers, AsiaPulse, a news agency said.

Ajit Joseph Johnpillai, managing director of Brandix Apparel Bangladesh Limited and Md Moyjuddin Ahmed of the Bangladeshi export promotion zone agency had signed a deal to start the factory last week.

Privately held Brandix group is in the process of listing a joint venture knitting mill, Textured Jersey Lanka, in Sri Lanka’s Colombo Stock Exchange.