A Swedish packaging and information tag production company on Tuesday announced it will set up a factory in the Araihazar Special Economic Zone, Narayanganj.

The company’s Bangladesh unit, Nilorn Bangladesh Ltd, signed a memorandum of understanding (MoU) in this regard during the Bangladesh Investment Summit in Dhaka.

As per the agreement, the company would purchase a 10,000-square metre plot in the special economic zone for the upcoming factory.

Nilorn Bangladesh Ltd Managing Director Mohammad Abdul Quyum and Bangladesh Special Economic Zone Managing Director Taro Kawachi signed the agreement on behalf of their respective organizations.