Local equipment manufacture!
The news report titled, “New company set up to make hydraulic machinery for vessels” published on 6th March, 2012, was the best and the most important news of the day for us in Bangladesh. It was refreshing to know of something constructive coming up, amidst the usual news of problems and politicians' stale talks that fill the pages.
The (50:50) joint venture with overseas manufacturer will produce hydraulic equipment both for inland and sea going vessels. It will add to our expertise and open a new portfolio for export.
Normally, it will start with minimum local components, but being in the private sector, it should incorporate substantial percentage of locally manufactured components, say in five years. Congratulation goes to Western Fishers Shipyard Ltd. for this initiative.
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