Switzerland-based construction chemical manufacturer Sika Bangladesh Limited is setting up a factory in Meghna Industrial Economic Zone (MIEZ) with an investment of US$6 million.
The factory ground breaking ceremony was held Atoday at MIEZ, said a press release.
The company will make construction chemicals. Bangladesh Economic Zones Authority (BEZA) Executive Chairman Shaikh Yusuf Harun attended the function as the chief guest.
In his speech, Shaikh Yusuf Harun said that the company will start production in the 3rd quarter of next year.
Swiss Ambassador to Bangladesh Nathalie Chuard and Meghna Group of Industries (MGI) Director Tanjima Binthe Mostafa were present at the programme.
Nathalie Chuard said: "Bangladesh is transitioning from the list of Least Developed Countries (LDC) to developing countries. Foreign Direct Investment (FDI) is very important for Bangladesh. We want to be a cooperative partner in the development of Bangladesh."
Country Head of Sika Bangladesh Ltd. Sanjiban Roy Nandi said, "We are building this factory on 10,000 square metre area. The initial investment will be $6 million, employment will be 1000. The company will produce construction chemical admixture and grout chemicals. There is a heavy demand for this chemical as the infrastructure is being built in Bangladesh. The country has around Tk800-900 crore market size. We have applied for one more plot in economic zone."
Area Manager South Asia- Head TM Concrete of Sika Asia Pacific Management Pte. Ltd. Yumi Kan were also present at the ceremony.