Project expected to create around 2,000 direct and indirect jobs.
MEP Hi-Tech Industrial Park Limited, a concern of MEP Group, has started construction of a Tk200 crore electrical and electronics manufacturing facility at the National Special Economic Zone (NSEZ) in Mirsarai, Chattogram, with commercial production targeted for 2029.
The project is being developed on around 10 acres of land and will manufacture a range of electrical products, including electric wires, switches and sockets, fans, LED lights and circuit breakers.
The company also plans to expand exports of its "Made in Bangladesh" electrical products alongside meeting domestic demand.
Keep updated, follow The Business Standard's Google news channel The Bangladesh Economic Zones Authority (Beza) and MEP Hi-Tech Industrial Park Limited laid the foundation stone of the project today (26 July), according to a Beza press release.
Beza said the fully locally-funded project will establish a modern, technology-driven and environment-friendly electrical products manufacturing cluster at the NSEZ.
Jahangir Alam Chaklader, managing director of MEP Hi-Tech Industrial Park Limited, said the company is committed to developing a world-class, technology-driven and environmentally friendly manufacturing facility.
He expressed hope that the project would help meet domestic demand while strengthening the competitive position of Bangladeshi electrical products in international markets.