Singer Bangladesh Limited in association with its parent company and Turkish home appliances giant Arçelik is set to invest Tk 680 crore to build a new manufacturing complex at Bangladesh Special Economic Zone (BSEZ) in Narayanganj, a press release said Thursday.
An agreement to this effect was signed between SINGER Bangladesh and BSEZ Limited in Dhaka recently.
SINGER Chief Executive Officer and Managing Director MHM Fairoz and BSEZ Managing Director Taro Kawachi signed the agreement on behalf of their respective institutions. Senior officials of both the organizations were present at the signing ceremony.
The state-of-the-art manufacturing facilities will increase the manufacturing capacity and will help the company to be more competitive in the market.
SINGER CEO MHM Fairoz said, “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.”
Construction works of this manufacturing complex will be commenced shortly. The estimated completion period of this manufacturing project is two years.
The new manufacturing compound on 35 acres of land BSEZ will be certified as green building, thus reducing carbon footprint and GHG emission.
This new SINGER manufacturing complex will be producing refrigerators, televisions, washing machines, air conditioners and other major home and kitchen appliances.
The plant will create employment opportunities for up to 4,000 people in different forms.
