Pran-RFL invests Tk200cr on locally-made lifts

Business Desk:

Although Bangladesh’s lift market is still largely import-dependent, the demand for locally produced lifts has been steadily growing.

To meet this rising demand, Property Lifts – a subsidiary of Pran-RFL Group – has invested nearly Tk200 crore in producing world-class lifts at affordable prices. Besides Property Lifts, Walton is currently the only other company producing lifts in Bangladesh.

Around 70-80per cent of lifts used in the country are still imported. However, with local companies now supplying high-quality lifts that meet international standards, the trend of heavy reliance on imports is gradually declining. Company officials say they also plan to expand into manufacturing motors and control panels in the future. Industry insiders note that to supply customers with world-class lifts, Property Lifts has established a factory equipped with advanced labs and modern testing facilities, with particular focus on high-tech motors and control panels.