US Firm Invests $25 Million in Bangladesh Tyre Plant

Leviathan Global Corporation, a US-based company, has signed an agreement to invest US$ 70 million in a tyre production plant and 50 megawatt power plant in Bangladesh’s Karnaphuli Export Processing Zone (KEPZ). According to initial reports $25 million will be invested in building a tyre production facility that will employ 300 local people. According to local new sources, the agreement was signed on 2 March 2008 at Bangladesh Export Processing Zones Authority (BEPZA) complex.