The Pulse Today
BREAKING
Sajib Pledges Aid for 50,000 Flood-Affected People in SonargaonMP Azharul Islam Mannan Distributes Relief Funds to Needy Families in SonargaonParliament Proposes Anti-Gambling Bill with Maximum 7-Year Prison PenaltyOpenAI Unveils 'Schedule' Feature to Boost Task Management in AI ChatbotPrime Minister Tareq Rahman Arrives in Dalian, China for Economic ForumEurope Confronts Intense Heatwave; Conditions Predicted to DeteriorateGold Prices Rise Again in Bangladesh Amid Global Market IncreaseSpaceX's Nasdaq Debut Values Company at Over $2 Trillion, Surpassing AmazonStudy Reveals AI Data Centers Contribute to Local Temperature IncreasesNarayanganj BNP Youth Wing Holds Rally to Welcome New Central CommitteeNepal's Ongoing Search for Flood Survivors Amid Hope and DespairHouthis Report Over 30 Saudi Airstrikes Across Multiple Yemeni RegionsRussia Announces Downing of 596 Ukrainian Drones in Overnight OperationKenyan Start-Up ZeroBionic Introduces Robotic Limbs for Deaf ChildrenIran-US Tensions Rise as Standoff in Hormuz Strait DeepensAdani Group Seeks $1 Billion by Selling Stake in Airport HoldingsNorway's King Harald V to Be Laid to Rest in a $2 Million SarcophagusChina's August Inflation Sees Minor Rise, Remaining Below Government TargetRubio Starts Latin America Tour, Vows to Repair Colombia RelationsCarney Highlights Canada's Shift from US Amid Trump's Escalating ThreatsMiddle East Tensions Drive Crude Oil Prices Close to $100 per BarrelTrump Praises Far-Right AfD's Success in German State ElectionsTrump Administration Implements Ban on Certain Canadian Goods Amid Rising Trade TensionsUS Military Destroys Five Iranian Oil Tankers Following Attacks on American WarshipRepublicans Rely on Trump's Influence for Crucial Midterm Election Outcomes

MEP Hi-Tech Announces Tk 200cr Investment in Mirsarai Economic Zone

MEP Hi-Tech plans to invest Tk 200 crore in setting up an electrical and electronics manufacturing plant in the Mirsarai Economic Zone.

By Staff Correspondent
Share
MEP Hi-Tech to invest Tk 200cr in Mirsarai Economic Zone | Business
BSS

MEP Hi-Tech is investing Tk 200 crore to establish an electrical and electronics manufacturing facility at the National Special Economic Zone in Mirsarai, Chattogram. The facility, spanning around 10 acres, will produce a range of products including wires, switch-sockets, fans, LED lights, and circuit breakers. The project is expected to create around 2,000 direct and indirect jobs and begin operations within the next year.

Significance of the Investment

The investment by MEP Hi-Tech is significant for several reasons. It will contribute to the industrialization of the region, promote technology-driven production, and help create import-substituting industries. Additionally, the project is expected to generate jobs and diversify exports, further boosting the local economy.

Background and Context

MEP Group, the parent company of MEP Hi-Tech, has been operating in Bangladesh's electrical and electronics sector since 1974. The company's decision to invest in the Mirsarai Economic Zone underscores the growing importance of special economic zones in attracting industrial investment. The Bangladesh Economic Zones Authority (BEZA) has been instrumental in facilitating this investment, aiming to create an investment-friendly environment.

The construction of the MEP Hi-Tech Industrial Park was inaugurated by Saleh Ahmed, BEZA Executive Member and Additional Secretary (Investment and Development). Special guests at the ceremony included MEP Group Managing Director Dr. Md Jahangir Alam Chakladar and Chairman Shafiul Ahmed Chakladar.

Source: BSS

Topics

Comments

More in business

See all →

Latest stories