Big Leap for Private Investment: Heavy Engineering & Tech Sectors Take Center Stage

In a major move to reactivate underutilized state assets, the government has prepared 43 state-owned enterprises for private investment. Following directives from Prime Minister Tarique Rahman, the Bangladesh Investment Development Authority (BIDA) today (Sunday) made the names, locations, and asset volumes of these institutions public.

BIDA highlighted that these entities hold over 10,000 acres of strategic industrial land equipped with essential utility services like road connectivity, power, gas, and water. Depending on investor interest and project dynamics, these assets will be open for leasing, joint ventures, management transfers, or strategic partnerships.

For the convenience of potential investors, the status and details of the heavy engineering and technology-related plants are listed below:

5 Top Industrial Units in Steel & Heavy Engineering

The government has brought 5 vital heavy engineering units to the forefront for immediate modernization:

1. Eco-Friendly Modern Steel Mill (Chhaipukurial, Bogura): A brand new, green facility ready to commence operations under private management or joint venture.

2. General Electric Manufacturing Company Limited - GEMCO (North Patenga, Chattogram): This heavy electrical equipment manufacturing plant is currently partially operational and requires tech-infusion to meet global standards.

3. Pragoti Industries Limited - PIL (Barabkunda, Sitakunda, Chattogram): The country's lone public car assembler is currently running on a limited scale. It offers massive scope for redevelopment through joint ventures.

4. Renwick, Jajneswar & Co. (Bangladesh) Ltd. (Kushtia): Known for manufacturing sugar mill machinery, this unit has long been unprofitable and is now ready for thorough modernization.

5. Atlas Bangladesh Limited - ABL (Tongi Industrial Area, Gazipur): This motorcycle assembling plant is currently operating on a limited scale and is open for strategic partnership to regain profitability.

Telecom, Software & Advanced Industrial Tech Sector

While there are no traditional standalone IT software units in the mother list, 4 highly sophisticated industrial technology and solar-tech plants have been separated for tech investors:

• AFCCAL’s Premium Float Glass, Solar Glass & Solar Panel Plant (Ashuganj, Brahmanbaria): A crucial plant for renewable energy technology, currently partially operational.

• Usmania Glass Sheet Factory Limited - UGSFL (Kalurhat, Chattogram): Positioned for high-tech glass manufacturing, currently closed or operating on a limited scale.

• GPFPLC’s UF-85 Plant (Palash, Narsingdi): A chemical technology-driven plant open for redevelopment.

• GPFPLC’s WPP Bag Factory with Inner Liner (Ghorashal-Palash): An advanced industrial packaging unit awaiting strategic private investment.

BIDA noted that the majority of these listed state enterprises are currently non-profitable, closed, or running on a highly limited scope. The government's ultimate goal is to boost production, generate massive employment, and ensure maximum utility of state assets via private investment. 

//DBTech/IH/MI//