DBL Industrial Park looks to grow big with huge investment

The economy of Bangladesh is seeing continuous growth because of the entrepreneurial spirit of its people and the ever-increasing investment from the industrial sectors to expand into new business frontiers, said Dr Ahmad Kaikaus, principal secretary to the prime minister.

While addressing the foundation stone laying ceremony of DBL Industrial Park – to be constructed at Shreehatta Economic Zone in Moulvibazar – on Sunday, he also said the government has taken up a comprehensive development plan under the direct supervision of Prime Minister Sheikh Hasina for advancing towards more export-oriented economy to boost the growth.

Under the plan, the Beza economic zones will play a pivotal role in building successful manufacturing hubs, he expected.

The industrial park – to be established on 167.6 acres of land – is expected to create employment for 5,630 people and generate $500 million yearly turnover.

A total of 10 manufacturing units will be set up in the industrial park featuring state-of-the-art technology. These are textile, spinning, recycled polyester, ceramic tiles, sanitary ware, ceramic frit, floral glass, glass processing, dry mortar and faucet units.

Due to the ongoing coronavirus pandemic, the launching ceremony of the industrial park was held at Pan Pacific Sonargaon Hotel in the capital, instead of the original venue located in Moulvibazar. The industrial park will be constructed by DBL Group, one of the leading business conglomerates of the country.

Besides creating a good number of employment opportunities, this industrial park will manufacture raw materials and finished products for domestic and export markets, the company stated.

Dr Ahmad Kaikaus attended the foundation laying ceremony as the chief guest while Shaikh Yusuf Harun, executive chairman of the Bangladesh Economic Zones Authority, was the special guest.

DBL Group Chairman Abdul Wahed, Managing Director MA Jabbar, Vice Chairman MA Rahim, Deputy Managing Director MA Quader, and Senior Secretary to Youth and Sports Ministry Akther Hossain, among others, also attended the event.

Yusuf Harun said, "Beza is working to establish 100 economic zones across the country. DBL Group, one of the largest business conglomerates of Bangladesh, has joined this journey of economic expansion.

"It will surely fulfill the goals of creating world class quality products and materials which would contribute to the country's national economy. This investment will make foreign investors more confident about investing in our country."

DBL Group Managing Director MA Jabbar said: "Today, Bangladesh is at the cusp of growth led by innovation and huge investment. We are witnessing an age where technology is being effectively integrated into infrastructure at an increasing rate. Our aim is to fast forward this progress through a revolutionary change in the industrial sector of Bangladesh."

"At DBL Group, we challenge conventional manufacturing methods and move the industry towards an efficient and automated platform. The launch of DBL industrial park is an important step towards achieving our vision of pushing forth the next phase of Bangladesh's growth through world-class infrastructure," he added.

At the park, DBL plans to build a world-class textile mill to produce 43.5 tonnes of fine cotton yarn and rotor yarn per day, to cater for the diverse needs of the textile industry.

The unit will be further expanded by the same capacity in future. The park will have a recycled polyester unit also which will produce 18 tonnes of staple fiber per day as a raw material for the spinning factory.

In the industrial park, DBL aims to produce over 40,000 square meters of ceramic tiles per day in its ceramic factory unit.

In another ceramic facility they will produce 90-99 tonnes of ceramic frit per day, which is a major ingredient of ceramic glaze used widely in the ceramic industry.

The park will also feature float glass manufacturing, glass processing, faucet manufacturing units. The dry mortar facility of the industrial park is expected to generate $8.8m revenue per year.

DBL's biggest initiation at the industrial park is the Jinnat Textile Mills Limited with two spinning factories, which will be a vital part of DBL's vertically integrated textile composite.

These manufacturing units will cater to existing renowned buyers such as H&M, George, Puma, Esprit, G-Star, Decathlon, Tom Tailor, MQ Retail, NEXT, M&S, Bench, Gymboree, LIDL, C&A and Target.

Total investment on the first factory will be $83.35 million with a yearly revenue of $70 million. Jinnat Textile Mills Limited will be expanded in future with 43.5 tonnes per day totaling $140 million revenue per year.