Big companies start investing in Rajshahi BSCIC estate

http://www.theindependentbd.com/business/finance/76597-big-companies-start-investing-in-rajshahi-bscic-estate.html

Big companies start investing in Rajshahi BSCIC estate
Author / Source : BSS

RAJSHAHI, Oct 22:  Some of the country’s big companies have started investing in the industrial estate of Bangladesh Small and Cottage Industries Corporation (BSCIC) in Rajshahi metropolis. Early in the current year, Abul Khair Group and Nitol Group have taken plot allocation and started their production. Destiny Group has also shown its interest for investing here. Many other significant groups of companies are in the pipeline.

According to the officials concerned, the sick and laid off industries are being replaced with the new viable enterprises.  Transferring process of the existing infrastructures of Shahi Fabrics and Shah Mukhdum Silk Industries, which remained inoperative for long, is on the final stage.

“The sick industry owners will either restart their businesses or transfer possession of their units,” said Mominul Islam, estate officer of the BSCIC, adding that creation of new estates became necessary to meet the local demand.

He said more than 100 units of BSCIC were declared sick and laid off about 18 to 20 years back but the number at present came down to almost zero level because of the rising trend in production and marketing of goods.

Most of the industrial units have become profitable over the last couple of years as the local entrepreneurs have been showing keen interest in restarting the sick industries and operating their business successfully after transferring ownership.

Some of them are also trying to get new plots to set up various other prospective industrial units.

Moreover, 190 industrial units out of total 200 plots are making profit through their successful operation and 10 other units are waiting to go for production in the near future, He said.

The 325-plot BSCIC industrial estate, established in 1961 on 95.71 acres of land on the city’s outskirts, has been providing electricity, water supply, security, road and drainage facilities to the entrepreneurs for running their business.

A successful garments entrepreneur of the country, Shahriar Alam, MP and member of parliamentary standing committee on information ministry, has launched the North Bengal Flour Mills on a plot of the estate creating more employment opportunities here. He also afoot to launch a knitwear factory besides the flour mills first ever in the region.

Several silk-clothes manufacturing units, including foreign- owned ones earned reputation for their quality products. They expected that there would be no more sick industry in the estate, the officials said.

Terming the BSCIC industrial area viable for any small and medium industry, Monzur Faruque Chowdhury, owner of Dinar Food Products, said the entrepreneurs were making profit and had demanded gas supply to the BSCIC to reduce production costs.

He stressed the need for taking necessary steps to formulate a separate business friendly policy for the country’s northwestern region, checking smuggling of Indian goods, providing gas connection to the industrial units and bank loans at low interest rates for making these industries more profitable.

Alhaj Sadar Ali, owner of Sapura Silk Mills Ltd in the estate, said the real entrepreneurs of the area are willing to set up more industries.

He urged the government to provide industrial plots to those, who would contribute to the national economy through production.

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