Malaysian group intends to build car plant
Star Business report
The Malaysian Agate group has expressed its interest to build a car plant in joint venture with local the Walton High Tech Industries, officials of both the sides disclosed it yesterday.
The group will also import Walton-made motorbike and freeze and market those in Malaysia and some other countries.
“Bangladesh is a big market for cars and other motorised vehicles. Production cost will be relatively cheaper because of huge surplus labours,” said Agate Group Managing Director Sultan Abdul Quadir at a press briefing at the Walton headquarters at Motijheel in Dhaka.
The group has also planned to invest in the country’s power sector and human resource development, Quadir said.
Agate’s proposals include setting up 1,000-megawatt power plant based on coal fired facilities, medical schools and other training facilities to create qualified nurses and other technicians and imparting training to the local people with a duration ranging from three months to three years for overseas job market.
In the field of international trade, the delegation on behalf of the Malaysian government expressed its desire to export 1.5 million tonnes of palm oil to Bangladesh.
Quadir expressed his interest during a meeting with Commerce Minister Faruk Khan at his office Sunday.
Agate Group operates duty free outlets to sell cigarettes, cosmetics, jewellery, leather goods, perfumes, fashion wear, watches, textiles and electrical goods in Malaysia. The company also operates colleges to provide courses in engineering, electronics and information technology.
It involves in software development for finger print identifications, general security systems and warfare related technological equipment.
The group has a coalmine in Indonesia and a 1,200-megawatt power plant in Gujarat in India.
Walton Directors Mahbubul Alam and Abul Bashar Howlader were present at the press conference.