Ecolet to invest $15.91 million in Bepza Economic Zone for LED manufacturing

Bangladeshi company Ecolet (Pvt) will invest $15.91 million to set up an LED (light-emitting diode) products manufacturing plant at Bepza Economic Zone-1 in Mirsharai, Chattogram, adding a new sector to the export processing zone's product basket.

The plant will produce six million pieces of LED bulbs, lamps and decorative lights annually for export to the US, UK, European Union and Middle East.

Tap here to add The Daily Star as a trusted source

The project is expected to create jobs for 306 Bangladeshi nationals, according to a press release.

The investment is part of the Bangladesh Export Processing Zones Authority's (Bepza) push to diversify its product and export base by drawing investment into high-value, technology-oriented manufacturing alongside traditional export sectors.

The agreement was signed today at the Bepza Complex in Dhaka.

Tanvir Hossain, member (investment promotion), signed on behalf of Bepza, while Mohammad Soliman, managing director of Ecolet (Pvt), signed for the company.

Bepza Executive Chairman Major General Mohammad Moazzem Hossain was also present.

Welcoming the investment, Hossain said Bepza is working to diversify its product basket by attracting investment in sectors beyond traditional exports.

"The inclusion of LED products will add a new dimension to our ongoing efforts towards product and export diversification," he said.

The project will bring technology-oriented electrical and electronics manufacturing to the zone, contributing to the expansion of the country's export product portfolio.