Ecolet to invest $15.91m in Bepza Economic Zone for LED manufacturing

Ecolet (Pvt) Limited signed an agreement with the Bangladesh Export Processing Zones Authority (Bepza) today (27 August) to invest $15.91 million in setting up an LED products manufacturing facility at Bepza Economic Zone-1 in Mirsharai, Chattogram. 

The agreement was signed at the Bepza Complex in Dhaka, with Md Tanvir Hossain, member of Investment Promotion, signing on behalf of Bepza and Mohammad Soliman, Managing Director of Ecolet Limited, signing for the company.

The proposed facility will produce 6 million LED bulbs and lamps, including decorative lighting products, annually, primarily for export to major international markets such as United States, United Kingdom, European Union and Middle East, according to a press release.

The project is expected to create employment opportunities for 306 Bangladeshi nationals, while introducing technology-oriented electrical and electronics manufacturing to the Bepza Economic Zone.

Bepza executive chairman, Major Gen Mohammad Moazzem Hossain, witnessed the signing ceremony.

Welcoming the investment, the executive chairman praised Ecolet for undertaking a non-RMG manufacturing initiative and contributing to the diversification of Bangladesh's export-oriented industrial base.

He said Bepza is working to broaden its product basket by attracting investment in sectors beyond traditional export industries.

"The inclusion of LED products will add a new dimension to our ongoing efforts towards product and export diversification," he said.

The signing ceremony was attended by Bepza Member (Engineering), Abdullah Al Mamun; Member (Finance), A N M Foyzul Haque; Executive Director (Enterprise Services), Moshiuddin Bin Mesbah; Executive Director (Administration), Samir Biswas; Executive Director (Public Relations), A S M Anwar Parvez, along with senior Bepza officials and representatives of Ecolet Limited.