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Saudi company to invest $35m for producing electrical products

Bilal9

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Talha Bin Habib

A representational image-- Collected

A Saudi company, Saudi Engineering Dimensions, will invest US$ 35 million in the country for producing transformers and other electrical products, considering the market potential here, officials said.

The investment will take place under a recent agreement signed with Bangladesh Steel and Engineering Corporation (BSEC).

BSEC, a state-run company of Bangladesh under the Ministry of Industries (MoI), will provide land and other logistics supports to the Saudi company to set up facilities for producing electricity devices.

The company will set up a plant on 21-acre of unused land owned by General Electric Manufacturing Company Limited (GEMCO) in Chattogram.

Meanwhile, a high- powered delegation from the MoI will fly to the Kingdom of Saudi Arabia (KSA) during the second week of this month for visiting the Saudi company's plant and activities.

The delegation will discuss with the company officials about starting the process of investment in Bangladesh, an additional secretary of the MoI told the FE on Sunday.

He said that industries secretary Md Abdul Halim will lead Bangladesh delegation to the KSA.

Bangladesh and Saudi Arabia have been maintaining good relationships for a long time. Saudi Arabia is one of the key development partners of Bangladesh.

The country's huge population, domestic demand and skilled manpower are among the vital factors that have created interest among the Saudi investors to invest in Bangladesh, a director of Dhaka Chamber of Commerce Industry (DCCI) told the FE.

A director of BSEC, who is expected to visit the KSA with the government delegation, told the FE that the Saudi company may start shipment of equipments for setting up the plant on the land of GEMCO Ltd in Chattogram. The GEMCO is an enterprise of the MoI.

The KSA has proposed the government of Bangladesh to invest several billions of dollars in more than 30 projects. The development came following Prime Minister Sheikh Hasina's visit to the Kingdom in October last year.

The oil-rich country wanted to invest in commercially viable projects in Bangladesh, targeting oil and gas, fertiliser, cement, power plants, solar energy, and physical infrastructures, according to Bangladesh Investment Development Authority (BIDA).
 

Bilal9

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IMHO Bangladesh has some factories producing electrical industrial motors such as for pumps and sewing machines, but they should set up production for larger industrial motors as well as generators. Problem is, Chinese produced electrical motors (such as three phase motors) are still so cheap.

But industrial motor manufacturing (from micro to huge) is quite labor intensive (and therefore value addition is very high). There is ample prospect for local talent if we train them.

In Europe - cheaper labor in Eastern Europe is currently the center of motor manufacturing - Romania and Bulgaria etc. Labor cost is primary factor in industrial motor manufacture.

We should get ToT from China/Japan for larger size electric motor manufacturing such as this company in Suzhou.


And for larger motors we should go to a company like Baldor in the US (a part of ABB in Europe now).

 

bluesky

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Congrats, but credits go to Imran Khan's foreign policy.
Do not please criticize your Imran Khan because of a little investment by an Arab company in BD. He is a good PM, at least he is not corrupt. He is trying to clean the messes created by the previous govts and the military generals. People in BD are fond of IK. We hope, during his first term he will build a sound foundation for the future Pakistan economy and things will start turning around during the tenure of his second Premiership. However, better not to expect miracles.

I have my personal belief that a strong Pakistan, economy or military, is a needed component of the defence of Bangladesh and IK will not disappoint us by making Pakistan great again.
 

Bilal9

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Industrial Motor repairing/rewinding/rebuilding process on a much smaller scale - similar to current processes in Bangladesh.

 

BATMAN

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Imran Khan's foreign policy helped Bangladesh?
Accept my sincerer congrats.
It's just how states work, they keep their own interest in forefront and kick out all the competition but hardly any state would act against it's won interests, like Pakistani useful idiots does.
 

bluesky

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Accept my sincerer congrats.
It's just how states work, they keep their own interest in forefront and kick out all the competition but hardly any state would act against it's won interests, like Pakistani useful idiots does.
So far you haven't told us what wrong the PM did so far.
 

Bilal9

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Accept my sincerer congrats.
It's just how states work, they keep their own interest in forefront and kick out all the competition but hardly any state would act against it's won interests, like Pakistani useful idiots does.
Well Thanks for the Congrats.:-)

We may be getting off topic here - but your own military establishment helped elect him. They are also liable to "act against (Pakistan's) own interests"? Seems odd but of course we have our own gaddi-nasheen example as well.

I don't know a whole lot beyond this - but let's continue this discussion elsewhere.
 
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mb444

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My guess is that Saudis wanted to to invest in Pakistan and Imran Khan may have done something to not facilitate the same....hence they came to Bangladesh.
Umm...ok...IK not doing sonething the saudis want....does not seem likely.... even if he wanted to given pakistans finances seems strange...
 

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