Rangs mulls to lead appliance makers

Rangs Electronics Limited, one of the leading local home appliance manufacturers, is set to manufacture millions of electronics products at its plant in Bangabandhu Sheikh Mujib Hi-Tech Park in Sylhet to be set up investing $80 million. An agreement to this effect was signed between the Bangladesh Hi-Tech Park Authority and Rangs Electronics on Sunday.

Hosne Ara Begum, managing director, Bangladesh Hi-Tech Park Authority, and J Ekram Hossain, Rangs Electronics signed the agreement. Under the agreement, 32 acres of land will be allotted in favour of Rangs Electronics at the hi-tech park. Besides, the company will be provided policy support for future investment.

Once operational, Rangs Electronics envisions annually producing a million refrigerators, five lakh televisions, two lakh air conditioners, and 1.5 lakh home and kitchen appliances in the new plant.

In return, they seek complete cooperation from the hi-tech park authorities, which will help them to develop hi-tech products using the internet of things technology, under their consumer electronics category, said Ekram Hossain, managing director of Rangs Electronics.

However, Rangs hopes to set up five factories over there separately for refrigerators, televisions, air conditioners (AC), home/kitchen appliances and moulding, in the next three years.

This will create employment opportunities for 5,000 people at Rangs alone. 

Hosne Ara Begum, managing director of Bangladesh Hi-Tech Park Authority, and J Ekram Hossain, the MD of Rangs Electronics, sign agreement at a ceremony in the capital on Sunday

If they work in a high-tech park, they will get 148 types of services through a one-stop service and 14 incentive facilities. The ICT department will always be by their side if they need any help, said ICT State Minister Zunaid Ahmed Palak.

So far 20 institutions have been allotted a total of 74.06 acres of land and 16,500 square feet of space in Sylhet’s Bangabandhu Sheikh Mujib Hi-Tech Park. 

“Companies have promised to start their operations soon. According to the targets of the companies, we expect about 50,000 people to be employed there.”

Many local and foreign companies are interested in investing in the park as there is a huge potential to enter the Seven Sisters region of India from here.  

“That is why we are taking initiative to acquire another more 640 acres of land in the vicinity of the park.”

Of this, 85 acres are under the proposal, Palak said.

“As per the instructions of the prime minister, we are no longer willing to be an import-reliant country. We now have to make our debut as an exporting country,” Palak added.

The Hi-Tech Park in Sylhet is being implemented at a total cost of Tk 336.42 crore from the government's own fund. 

As it is a priority project of the government, it is being implemented with utmost importance and now is ready for investment, said Hosne Ara Begum, managing director of Bangladesh Hi-Tech Park Authority.

Land development, construction of administrative buildings, internal roads and bridges Bridge constructions, power supply, setting up of gas line and deep tubewells have been completed in the Sylhet Hi-Tech park, she added.

Injects $80m to set up plant