Business Desk :
Singer Bangladesh has signed an agreement with Bangladesh Special Economic Zone (BSEZ) in Narayanganj’s Rupganj to take 35 acres of land on lease to establish new manufacturing complex.
The multinational electronics and home appliance maker shared the information with its shareholders on Thursday.
BSEZ is the first special economic zone developed by a Japanese company. It was established jointly in partnership with the Bangladesh Economic Zones Authority.
“Since Singer has partnered with Arçelik, we have chalked out mid- and long-term goals in Bangladesh. We have already started developing products to match the specific needs of consumers in Bangladesh,” said Singer Bangladesh CEO MHM Fairoz.
“Singer has been investing in product development with the support of Arcelik R&D team. Our goal is to have the technologies to produce superior quality products, not only for Bangladesh market but also for other countries.”
“We have targeted to position Bangladesh as an export hub in this region,” he said.
In last March, Singer Bangladesh approved a budget for establishing a new manufacturing facility in order to increase its manufacturing capacity.
The land would be used for the expansion of manufacturing capacity.
The budget approved by the board of directors of Singer Bangladesh was around 71 million euros, which is equivalent to around Tk 680 crore, according to another disclosure of the company.
