Gava Private Limited, a company owned by Hong Kong, Sri Lanka and Switzerland, is going to invest $25.62 million at Dhaka Export Processing Zone (DEPZ) to set up a garment manufacturing industry.

The company will produce annually 4.4 million pieces of jackets, fleece jackets, t-shirts, polo shirts, sweaters, trousers, coverall, stretch pants, denim pants, shorts, shirts, sweat-shirt, hi-vis shirts, and vests, said a press release.

This investment will create employment opportunities for 3,086 Bangladeshi nationals, it said.

Ali Reza Mazid, investment promotion member of Bangladesh Export Processing Zones Authority (Bepza), and Prasanna Kumar Jayasinghe, director of Gava, signed an agreement to this effect.

Under the agreement, Gava will purchase A-One BD Limited Company through the auction process to run its business here.

A-One BD, a knitting and another textile factory at DEPZ, was closed due to a business downturn earlier.