Ecolet (Pvt) Limited has signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to invest $15.91 million in an LED products manufacturing facility in Mirsharai, Chattogram.
The agreement was signed on 27 August at the BEPZA Complex in Dhaka. Md Tanvir Hossain, Member of Investment Promotion, signed on behalf of BEPZA. Mohammad Soliman, Managing Director of Ecolet Limited, signed for the company.
The new facility will be established at BEPZA Economic Zone-1. It will have an annual production capacity of 6 million LED bulbs and lamps. The product range will also include decorative lighting products.
The facility will mainly serve export markets. Key destinations will include the United States, United Kingdom, European Union and Middle East.
The project is expected to create jobs for 306 Bangladeshi nationals. It will also introduce technology-focused electrical and electronics manufacturing to the BEPZA Economic Zone.
BEPZA Executive Chairman Major Gen Mohammad Moazzem Hossain witnessed the signing ceremony. Other senior officials from BEPZA and representatives from Ecolet also attended the event.
The investment marks a move into non-RMG manufacturing within the BEPZA Economic Zone. It also supports Bangladesh’s efforts to diversify its export base.
Welcoming the investment, Major Gen Mohammad Moazzem Hossain highlighted the importance of expanding beyond traditional export industries. He said BEPZA is working to attract investment across a wider range of sectors.
The addition of LED products will further expand Bangladesh’s export-oriented manufacturing portfolio. It could also strengthen the country’s presence in the global electrical and electronics market.
Ecolet’s investment adds technology-oriented manufacturing to Bangladesh’s growing industrial base. With an annual capacity of 6 million LED products, the facility will target major international markets from its Mirsharai location.
The project therefore combines export growth, job creation and product diversification. It also reflects the growing potential for non-RMG manufacturing in Bangladesh.
Source: The Business Standard
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