British American Tobacco (BAT) Bangladesh is ready to invest Tk322.20 crore to set up a factory in Savar to grab the growing opportunities in export markets, according to the Dhaka Stock Exchange website.
In a board meeting on Wednesday, the multinational tobacco giant approved the decision.
Early on 17 February this year, it had decided to invest Tk192.50 crore to set up a new factory in Savar for boosting cigarette exports.
BAT, which was exporting some tobacco leaves earlier, began cigarette exports from Bangladesh in 2019.
In the first half of this year, its net revenue grew by 25% to Tk3,841.17 crore, compared to the previous year in the same period.
During the corresponding period, its net profit jumped by 44% to Tk862 crore and earnings per share stood at Tk15.96.
On Thursday's first trading session, its share price rose by 0.92% to Tk570.90 each at the Dhaka Stock Exchange.