DHAKA, Feb 23, 2026 (BSS) -  Integrated Composite Industries Ltd., a UAE-Bangladesh joint venture (JV) company, has signed a land lease agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to establish a ‘Fiber Reinforced Polymer (FRP) Composite Products, Steel Frame & Accessories’ manufacturing industry at the BEPZA Economic Zone.

The company will manufacture modern bathtubs, jacuzzi, and panel tanks using FRP. To support this production, it will also develop various FRP composite products and accessories, including molds and patterns. 

The company plans to produce 6,174 metric tons of these products annually to meet the significant demand in the shipbuilding and cruise industries, with the majority of the output primarily destined for export to Dubai.

This investment marks a significant step toward industrial diversification in Bangladesh, moving beyond traditional sectors into the specialized field of composite materials. With a proposed investment of US$ 10 million, the company is expected to create employment opportunities for 906 Bangladeshi nationals, said a BEPZA press release.

The agreement was signed yesterday at the BEPZA Complex in Dhaka. Md. Tanvir Hossain, Executive Director (Investment Promotion) of BEPZA, signed the agreement on behalf of BEPZA, while Kamrul Hasan Chowdhury, Chairman of Integrated Composite Industries Ltd., signed on behalf of the investing company. 

BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony.

Welcoming the investor, the Executive Chairman of BEPZA reaffirmed BEPZA’s commitment to providing seamless facilitation and a supportive, investor-friendly environment to ensure the success of industrial ventures. 

He thanked Integrated Composite Industries Ltd. for coming forward with a diversified manufacturing initiative in the context of Bangladesh and expressed hope that such non-traditional, value-added products would contribute significantly to diversifying the country’s export basket.

Kamrul Hasan Chowdhury expressed his satisfaction with BEPZA’s investor-friendly initiatives and stated that Bangladesh is increasingly becoming a lucrative destination for global investors. He also expressed optimism about commencing operation at the earliest possible time.

The ceremony was attended by Abdullah Al Mamun, Member (Engineering); A N M Foyzul Haque, Member (Finance); Samir Biswas, Executive Director (Administration); A.S.M. Anwar Parvez, Executive Director (Public Relations); along with senior officials of BEPZA and representatives of Integrated Composite Industries.