Ecolet to invest $15.91m in LED plant at Bepza zone
Ecolet (Pvt) Limited will invest $15.91 million to establish an export-oriented LED products manufacturing plant at Bepza Economic Zone-1 in Mirsarai, Chattogram.
The company signed the investment agreement at the Bepza Complex in Dhaka on Thursday (27 August), according to a press release. The invitation specified that the ceremony would be at the Bepza Complex.
The company plans to manufacture 6 million LED bulbs, lamps, and decorative lighting products annually for export to the United States, the United Kingdom, the European Union, and the Middle East.
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The project is expected to create jobs for 306 Bangladeshi nationals.
Bepza Member for Investment Promotion Md Tanvir Hossain and Ecolet Managing Director Mohammad Soliman signed the agreement on behalf of their respective organisations.
Bepza Executive Chairman Major General Mohammad Moazzem Hossain, NDC, AFWC, PSC, G, MPhil, witnessed the signing.
Welcoming the investment, Moazzem said producing non-RMG goods would support diversification of Bangladesh's export-oriented industrial base.
"Bepza is working to diversify its product basket by attracting investment in sectors beyond traditional export products," he said.
"The inclusion of LED products will add a new dimension to our ongoing efforts towards product and export diversification," he added.
Bepza said the project would introduce technology-oriented electrical and electronics manufacturing at its economic zone and expand Bangladesh's export portfolio.
Bepza Member for Engineering Abdullah Al Mamun, Member for Finance ANM Foyzul Haque, Executive Director for Enterprise Services Moshiuddin Bin Mesbah, Executive Director for Administration Samir Biswas and Executive Director for Public Relations ASM Anwar Parvez attended the signing ceremony.
Senior Bepza officials and Ecolet representatives were also present.
