KARACHI, May 16: YKK, the leader in manufacture of zippers and other fastening products, on Tuesday singed an agreement with the Export Processing Zones Authority (EPZA) for setting up production facility at the Karachi Export Processing Zone Phase-II.

YKK director Kosuke Miimi and EPZA chairperson Ms Rukhsana Saleem singed a formal deal for handing over possession and construction of the factory building.

The company plans to invest $15 million in zippers and other fastening products at the zone. It is already running similar projects in 70 countries, including Bangladesh and Sri Lanka, with a turnover of $5 billion.

The YKK zippers production will help meet local requirement of apparel manufacturers and exporters who supply garments to the world market. The availability of quality products will enhance the value of Pakistani textile made-ups in the international market.

The infrastructural requirement of YKK consists of 50,000 sq metres of land, quality of water for dye process for zipper tape, electricity, gas, telephone and communication lines and effluent water system. The unit is expected to start production in 2007.

The EPZA chairperson on the occasion said that this was the biggest investment by a multinational company at the KEPZ. She expressed the hope that this would go a long way in the transfer of technology in Pakistan and would also ensure quality zippers to garment manufacturers.