Jotun Bangladesh Ltd, a subsidiary of Norway-based Jotun Group, inaugurated its first factory in Bangladesh on Tuesday (16 August).
Suman Bhowmik, senior deputy general manager of Meghna Group of Industries told The Business Standard that the factory held its launching ceremony at its own building in Meghna Industrial Economic Zone in Narayanganj's Sonargaon.
FBCCI President Jashim Uddin presided as chief guest, while the chairman of Meghna Group of Industries, Mostafa Kamal, was present as the special guest at the ingratiation programme.
Jotun stands ninth among the biggest paint companies worldwide. The company said it aims to produce a variety of paints. They will go into commercial production soon. The automatic factory will initially run with a manpower of 100 people.
The company, famous for making fire retardant paint for ships, has a presence in more than 100 countries, with 65 companies and 40 production facilities on all continents, with Bangladesh being its 41st.
Jotun Bangladesh Managing Director Percy Jijina Ltd said the new facility has a total area of 8984 square metres with 4400 square metres of built-up area. It also comprises a separate section dedicated for warehousing purposes. Jotun Bangladesh Ltd has made an initial investment of Tk76 crores into this plant, she said.
Jotun's core vision - "Jotun Protects Properties" - is aligned with Bangladesh's ambitious plans for faster economic growth by investing in mega infrastructure development projects, Percy Jijina said.
"Through our innovation and state-of-the-art products, we spearhead not just enhancing appearances of assets but also ensure long lasting durability, thereby saving billions of dollars in maintenance and repair costs for our project partners worldwide," she added.
Percy Jijina said this factory will take us one step closer to achieving their vision, adding that all of these will augment Prime Minister Sheikh Hasina's vision of turning Bangladesh into a developed nation by 2041.
Following the enactment of the new factory, Jotun Bangladesh Ltd plans to increase its workforce for market expansion, creating hundreds of new job opportunities in the upcoming years.