Business Desk :
Runner Automobiles, a listed company with the stock market, is going to set up a three-wheeler manufacturing plant in Bangladesh with the association of Indian automobile giant Bajaj Auto Ltd.
The Board of Directors of Runner Automobiles is set to sign an agreement with the Indian company to set up the plant with a cost of Tk 3.0 billion.
The Runner Auto informed that they will invest approximately Tk 3.0 billion, a part of which will be funded by IPO proceeds which has already been approved by the board of directors, shareholders and taken approval from Bangladesh Securities and Exchange commission.
Under the agreement, Runner will manufacture and distribute Bajaj’s RE 4S three-wheeler in Bangladesh and will take necessary technical support for localisation of parts and components, assembling and manufacturing of vehicles from Bajaj Auto.
This will be the first ever three-wheeler manufacturing set-up of a global brand in Bangladesh, according to an announcement on the Dhaka Stock Exchange (DSE) website on Wednesday, said a press release.
By setting up the manufacturing plant with ensuring quality, availability and affordable price, Runner’s presence in the three-wheeler market will be further strengthened, the company hoped in the announcement.
Runner Automobiles, a listed company with the stock market, is going to set up a three-wheeler manufacturing plant in Bangladesh with the association of Indian automobile giant Bajaj Auto Ltd.
The Board of Directors of Runner Automobiles is set to sign an agreement with the Indian company to set up the plant with a cost of Tk 3.0 billion.
The Runner Auto informed that they will invest approximately Tk 3.0 billion, a part of which will be funded by IPO proceeds which has already been approved by the board of directors, shareholders and taken approval from Bangladesh Securities and Exchange commission.
Under the agreement, Runner will manufacture and distribute Bajaj’s RE 4S three-wheeler in Bangladesh and will take necessary technical support for localisation of parts and components, assembling and manufacturing of vehicles from Bajaj Auto.
This will be the first ever three-wheeler manufacturing set-up of a global brand in Bangladesh, according to an announcement on the Dhaka Stock Exchange (DSE) website on Wednesday, said a press release.
By setting up the manufacturing plant with ensuring quality, availability and affordable price, Runner’s presence in the three-wheeler market will be further strengthened, the company hoped in the announcement.
