The Switzerland-based construction chemical manufacturer Sika Bangladesh Limited has begun setting up a factory in the Meghna Industrial Economic Zone (MIEZ) with an investment of $6 million.
The groundbreaking ceremony of the factory was held on Thursday at the MIEZ in Sonargaon upazila of Narayanganj.
Speaking as the chief guest at the programme, Bangladesh Economic Zones Authority (BEZA) Executive Chairman Shaikh Yusuf Harun said the company will start production in the third quarter of next year.
He said, "I want to mention how proud we are to be a part of a venture as big as yours. Sika has been operating in 101 countries, with a global turnover of $9.38 billion in 2021 alone. This is nothing but good news for us.
"I would like to take this opportunity to assure you that your venture will have all-out support from us in every step of your way."
Swiss Ambassador to Bangladesh Nathalie Chuard said, "Bangladesh is transitioning from the list of least developed countries (LDC) to the status of a developing country. Foreign direct investment (FDI) is very important for Bangladesh. We want to be a cooperative partner in the development of Bangladesh."
Director of Meghna Group of Industries (MGI) Tanjima Binthe Mostafa said, "The decision to create an economic zone is a significant step of the Bangladesh government. As a result, foreigners are becoming interested in investing here. This is developing the country's industrial sector."
Since 1910, Sika has been a reliable partner in construction projects in almost every part of the world and has gained an enviable reputation for quality products and system solutions backed by unrivaled technical expertise and support.
Sources at Sika said the firm will produce chemicals required for various dry mortars in Bangladesh. It will improve the quality of the mixture, making infrastructure sustainable.
Country Head of Sika Bangladesh Sanjiban Roy Nandi told TBS, "We are building the factory in a 10,000 square metre area, where the initial investment will be $6 million. It will employ around 100 people."
"The factory will produce construction chemical admixture and grout chemicals. There is a heavy demand for this chemical in Bangladesh as the country is going through large scale infrastructural development. The market size of these products is around Tk800-900 crore in the country."
Sanjiban Roy Nandi also said the company has applied for one more plot in the economic zone.
"We started our operations in Bangladesh in 2017. Currently, we bring the finished products and sell them through local distributors. We have supplied our products to the mega projects that are going on in Bangladesh. Here we can easily deliver the product when it is ready," said Sanjiban Roy Nandi.
BEZA Executive Member Abdul Azim Chowdhury and Regional Target Market Manager Concrete Asia and Pacific and Area Manager South Asia Yumi Kan were also present at the ceremony.