Ecolet invests $15.91m for LED plant in BEPZA EZ
Adding a new dimension to BEPZA’s ongoing efforts to diversify Bangladesh’s export basket, Bangladeshi company Ecolet (Pvt.) Limited is set to invest US$15.91 million to establish an LED products manufacturing industry at BEPZA Economic Zone-1 (BEPZA EZ-1), Mirsharai, Chattogram.
The company will manufacture 6 million pieces of LED bulbs and lamps with decorative lights annually for export to major international markets, including the USA, UK, European Union and the Middle East, said a press release.
The project is expected to create employment opportunities for 306 Bangladeshi nationals.
The investment marks another step forward in BEPZA’s efforts to promote product and export diversification by encouraging investment in high-value and technology-oriented manufacturing alongside traditional export sectors.
The agreement was signed today at the BEPZA Complex in the city.
Md. Tanvir Hossain, Member (Investment Promotion), signed the agreement on behalf of BEPZA, while Mohammad Soliman, Managing Director of Ecolet (Pvt.) Limited, signed on behalf of his company.
BEPZA Executive Chairman Major General Mohammad Moazzem Hossain, ndc, afwc, psc, G, MPhil, witnessed the signing.
Welcoming the investment, the Executive Chairman expressed appreciation to Ecolet for undertaking an initiative to manufacture non-RMG products and contribute to the diversification of Bangladesh’s export-oriented industrial base.
He said BEPZA is working to diversify its product basket by attracting investment in sectors beyond traditional export products. “The inclusion of LED products will add a new dimension to our ongoing efforts towards product and export diversification,” he said. With the introduction of LED bulb and decorative lighting production, the project will bring technology-oriented electrical and electronics manufacturing to the BEPZA Economic Zone, contributing to the expansion of Bangladesh’s export product portfolio.
The signing ceremony was attended by Abdullah Al Mamun, Member (Engineering); A N M Foyzul Haque, Member (Finance); Moshiuddin Bin Mesbah, Executive Director (Enterprise Services); Samir Biswas, Executive Director (Administration); and A.S.M. Anwar Parvez, Executive Director (Public Relations), along with senior BEPZA officials and representatives of Ecolet (Pvt.) Limited.
