One of the largest business conglomerates in the country, Bashundhara Group of Bangladesh, is all set to invest around Taka 4,350 crore at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chittagong, to set up three industrial units including one for chemical products (colourants and textile chemicals), claimed media reports.
The three units – Bashundhara Chemical Industries, Bashundhara Multi Steel Industries and Bashundhara Pre-fabricated Building Manufacturing Industries – will be set up on around 500-acre land that has been leased out to Bashundhara Group in this new economic zone by the Bangladesh Export Processing Zone Authority (BEZA).
The factories are expected to get fully operational by end of 2021 and around 20 per cent of the project’s infrastructure development work is already completed, underlined the report citing secretary to the Vice-Chairman of Bashundhara Group.
Bashundhara Group, aided by this new chemical product unit, plans to grab a substantial share in the domestic market of textile chemicals, the report maintained.
According to estimates, by 2024, the textile chemical market is expected to reach a value of US $ 1.38 billion in Bangladesh.