Bangladesh’s economy is growing steadily due to the entrepreneurial spirit of its people and the ever-increasing investment from industrial sectors to expand to new business frontiers, said Dr Ahmad Kaikaus, Principal Secretary of Bangladesh. Prime Minister.
While addressing the cornerstone laying ceremony for the DBL Industrial Park – which will be built in the Shreehatta Economic Zone in Moulvibazar – on Sunday, he also said the government has put in place a comprehensive development plan under the direct supervision of Prime Minister Sheikh Hasina to move towards more export-oriented economy to stimulate growth.
As part of the plan, Beza’s economic zones will play a central role in building thriving manufacturing centers, he expects.
The industrial park – which will be established on 167.6 acres of land – is expected to create jobs for 5,630 people and generate annual sales of $ 500 million.
A total of 10 manufacturing units will be installed in the industrial park equipped with advanced technology. These are textiles, spinning, recycled polyester, ceramic tiles, sanitary ware, ceramic frit, floral glass, glass processing, dry mortar and valve units.
Due to the ongoing coronavirus pandemic, the industrial park launch ceremony took place at the Pan Pacific Sonargaon hotel in the capital, instead of the original place in Moulvibazar. The industrial park will be built by DBL Group, one of the country’s main business conglomerates.
In addition to creating a good number of employment opportunities, this industrial park will manufacture raw materials and finished products for domestic and export markets, the company said.
Dr Ahmad Kaikaus attended the foundation laying ceremony as the main guest while Shaikh Yusuf Harun, Executive Chairman of the Bangladesh Economic Zones Authority, was the special guest.
DBL Group Chairman Abdul Wahed, General Manager MA Jabbar, Vice Chairman MA Rahim, Deputy General Manager MA Quader and Principal Secretary of the Ministry of Youth and Sports Akther Hossain, among others, also attended the ‘event.
Yusuf Harun said, “Beza is striving to establish 100 economic zones across the country. DBL Group, one of Bangladesh’s largest business conglomerates, has joined this journey of economic expansion.
“It will certainly fulfill the goals of creating world-class quality products and materials that would contribute to the country’s national economy. This investment will make foreign investors more confident about investing in our country.”
DBL Group Managing Director MA Jabbar said: “Today Bangladesh is on the cusp of innovation driven growth and huge investment. We are witnessing a time when technology is being effectively integrated into infrastructure at an increasing rate. Our goal is to accelerate this progress through revolutionary change in Bangladesh’s industrial sector. “
“At DBL Group, we challenge conventional manufacturing methods and evolve the industry into an efficient and automated platform. The launch of the DBL Industrial Park is an important step towards realizing our vision of advancing Bangladesh’s next phase of growth through world-class infrastructure, “he added.
In the park, DBL plans to build a world-class textile factory to produce 43.5 tons of fine cotton yarn and rotor yarn per day, to meet the various needs of the textile industry.
The unit will be further expanded by the same capacity in the future. The park will also have a recycled polyester unit that will produce 18 tonnes of staple fibers per day as raw material for the spinning plant.
In the industrial park, DBL aims to produce more than 40,000 square meters of ceramic tiles per day in its ceramic factory unit.
In another ceramic factory, they will produce 90-99 tons of ceramic frit per day, which is a major ingredient in ceramic glaze widely used in the ceramic industry.
The park will also include float glass manufacturing, glass processing and valve manufacturing units. The industrial park’s dry mortar facility is expected to generate revenues of $ 8.8 million per year.
DBL’s biggest grand opening in the industrial park is Jinnat Textile Mills Limited with two spinning mills, which will be a vital part of DBL’s vertically integrated textile composite.
These manufacturing units will cater to existing renowned buyers such as H&M, George, Puma, Esprit, G-Star, Decathlon, Tom Tailor, MQ Retail, NEXT, M&S, Bench, Gymboree, LIDL, C&A and Target.
The total investment in the first plant will be $ 83.35 million with annual sales of $ 70 million. Jinnat Textile Mills Limited will be expanded in the future with 43.5 tons per day for a total turnover of 140 million dollars per year.