Govt to build 660MW plant in Mirsarai

The government is going to build a 660-megawatt gas or liquified natural gas-based power plant in Mirsarai of Chattogram. The cabinet committee on purchase yesterday approved the plant, which will be implemented by the Bangladesh Power Development Board. A unit of electricity from the plant will cost 3.037 US cents, or Tk 2.943, if the plant is gas-based, while it will be 6.796 US cents, or Tk 5.436, it is based on re-gasified liquified natural gas. The move came after the government scrapped plans to build eight coal-fired power projects recently considering the environmental issues. The four plants are: 50MW gas-based power plant in Sylhet’s Kumargaon; Fenchuganj 50MW gas-based plant; Bogura 20MW gas-based plant; and Ashuganj 53MW gas-based plant. The purchase committee also approved a proposal allowing the government to import 50,000 tonnes of wheat from Bagadiya Brothers Pvt Ltd of India.

Source: https://www.thedailystar.net/business/economy/news/govt-build-660mw-plant-mirsarai-2928596

 Bscic plans 3 more tannery parks though existing one not fully compliant

The Bangladesh Small and Cottage Industries Corporation (Bscic) has planned to build three more leather industrial estates, aiming to create more than four lakh jobs in the next five years. The move comes amid the authorities’ failure to make fully functional the Tannery Industrial Estate built on the bank of the Dhaleshwari River in Savar near the capital.  The central effluent treatment plant (CETP) of the Savar tannery estate does not have the capacity to process all the liquid wastes produced there. Since its journey began in 1957, the corporation has built 76 industrial estates in the country that have generated more than six lakh jobs. The corporation will build a leather and engineering industrial park in Rajshahi – mainly for finished products, and a backward linkage unit, aiming to generate employment opportunities for 50,000 people. Its plan also includes an industrial park In Chattogram for leather and light engineering industries on 500 acres of land at Mirsarai, targeting to create around 2.5 lakh jobs.

Source: https://www.tbsnews.net/economy/industry/bscic-plans-3-more-tannery-parks-though-existing-one-not-fully-compliant-350215

21 firms to invest Tk 10b in three hi-tech parks

Some 21 technology companies are set to invest Tk 10 billion in three hi-tech parks, creating about 2,500 new jobs. To this effect, all the companies signed agreements with the Bangladesh Hi-Tech Park Authority (BHTPA) in a signing ceremony at the ICT Tower . Of the signee organisations, four companies got land allocation in Bangabandhu Hi-tech City at Kaliakoir, 16 companies in Sheikh Jamal Software Technology Park in Chattogram, and one in Sheikh Kamal IT Incubation and Training centre in CUET. Among the firms, Bangladesh Card Limited alone will invest Tk 8.6 billion to manufacture smart card and security gears as well as assemble ATM in a plant, to be established on seven acres of land in Bangabandhu Hi-tech City. Besides, four other MoUs were also signed with four organisations – to bridge the existing gap among ICT industry, academia and stakeholders; develop human resource for ICT sector; flourishing women entrepreneurship; and strengthening start-up ecosystem.

Source: https://today.thefinancialexpress.com.bd/trade-market/21-firms-to-invest-tk-10b-in-three-hi-tech-parks-1640795155

Luxury car sales in fast lane

Sales of sport utility vehicles (SUV) and luxury cars grew at an annual average of 39 per cent in Bangladesh in the past decade as more people, armed with rising income, are buying automobiles in higher numbers. A total of 43,720 units of SUVs and luxury cars, including reconditioned ones, were registered in the 11 years to November 2021. The growth is 434 per cent compared to 2011. Popular sedan cars clocked 145 per cent growth during the period and 13 per cent on an average annually. Customers buy high-end cars because they perform better than economy cars, and they give their owners a sense of achievement, say industry people and users. In fact, Bangladesh has topped the list of countries that saw the quickest growth in the number of ultra-wealthy people between 2012 and 2017, according to a recent report of New York-based research firm Wealth-X. The number of ultra-high net-worth individuals rose 17.3 percent during the period. The upward movement of the rich people will continue as Bangladesh is said to see the third quickest growth in the number of high net-worth individuals in the world in the next five years, said Wealth-X in 2019. Bangladesh has three cars per 1,000 people, compared with 897 per 1,000 in Malaysia, showed a research paper of the Policy Research Institute of Bangladesh, a think-tank. It is 34 in Vietnam, 22 in India, and 16 in Pakistan.

Source: https://www.thedailystar.net/business/economy/news/luxury-car-sales-fast-lane-2928601

Hossain Akhtar Chowdhury becomes National Bank DMD

Hossain Akhtar Chowdhury has been promoted as the deputy managing director of the country’s first generation private bank, National Bank Limited, according to a statement. Prior to this appointment, Hossain Akhtar was the bank’s senior executive vice-president and divisional head of the International Division. Mr Chowdhury started his banking career as a probationary officer at IFIC Bank in 1989 and worked there till 1995. He also served in Prime Bank, One Bank, Southeast Bank and Dutch-Bangla Bank Limited before joining National Bank as a vice president in 2009. For more than a decade, he served National Bank Limited as branch manager and divisional head of different divisions at head office. Hossain Akhtar Chowdhury completed his honours and master’s in Public Administration from Dhaka University.

Source: https://today.thefinancialexpress.com.bd/trade-market/hossain-akhtar-chowdhury-becomes-national-bank-dmd-1640791495