Samuda Food Products and Samuda Chechemical Complex, 2 sister concers of TK Group of Industries will invest Tk 1744.80 crore at Bangabandhu Sheikh Mujib Shilpanagar (BSMSN) to produce consumer goods and chemicals. Mohammad Mostafa Haider, Manageing Director of Samuda Food and Md. Abdul Mannan, Executive Member of Bangladesh Economic Zones Authority signed the deal on behalf of their respective organizations.
“We aim to attract the regional consumers of Chattogram with new products”, Mohammad Mostafa Haider, Manageing Director of Samuda Food.
Initially Tk 650 crore will be financed, which will hit 1744 crore or $205.28 million in next 3 years, said the MD of Samuda.
The group yesterday inked the agreement with BEZA to take 60 acres of land on lease inside Bangabndhu Shilpanagar to set up the new production units.
The fresh investment will be used to produce soybean oil, soybean cake, refined edible oil, caustic Soda etc. Around 1560 jobs will be created in the new production site in 2 units, the construction of which will hopefully begin in January. The consumer unit will go into operation within next one and a half years and the chemical unit in two and a half years.
Paban Chowdhury, Executive Chairman of BEZA said, the authority encourages the food processors to ensure quality products for the consumers. Investments in the country’s economic zones are rather secured and are a result of BEZA’s hard work, he said.
He added, not only local companies, but also foreign ones are investing in food processing sector.
BEZA has created a welcoming atmosphere for the investors in the economic zones and it is ready to help them to do business smoothly.
