Marico to install 3rd factory at Mirsarai EPZ

Marico Bangladesh Limited, a Bangladesh-India joint-venture for manufacturing consumer goods, will install its third factory investing $27 million at Bangabandhu Sheikh Mujib Shilpa Nagar in Mirsarai of Chattogram.

Bangladesh Economic Zones Authority on Sunday signed a land lease agreement with the company aiming to create nearly 500 jobs.

BEZA executive member Mohammad Ali Ahsan and managing director of Marico Bangladesh Ashish Gopal signed the agreement at a function at BEZA office in the capital with BEZA executive chairman Paban Chowdhury in the chair.

Paban Chowdhury said that the EPZ at Mirsarai would be the greatest EPZ in South Asia. It will be environment and investment-friendly which will help to improve the lives and livelihoods of Bangladesh.

“We will implement the policy to make green economic zones considering the climate change. Different countries are coming to Bangladesh to invest in the EPZs thanks to geographical and strategical reasons. Marico is one of them. I thank the organisation,” he said.

Ashish Gopal said that 99 percent portfolio of Marico was prepared permanently in Bangladesh.

“We have 36 brands in 10 categories which are exported to different countries including Middle Eastern countries. We will try to supply world-class goods at home and abroad and become a proud ambassador of the ‘Made in Bangladesh’ slogan,” he said.

He also added that they aimed to invest Tk 220 crore to increase production and strengthen portfolio.

Marico started to invest in Bangladesh in 1999. Its product ‘Parachute Cooling Hair Oil got popularity’ in Bangladesh.

Local companies including PHP, Bashundhara Group and TK Group of Industries and foreign investors including Nippon from Japan, Asian Paints from India, Berger Paints from the United Kingdom, Wilmer from Singapore are going to invest in the Bangabandhu Sheikh Mujib Shilpa Nagar established on 30,000 acres of land.