Bangladeshi company Ecolet (Pvt.) Ltd will invest US$15.91 million to establish an LED products manufacturing plant at the BEPZA Economic Zone in Mirsharai, Chattogram.
The company will produce around 6 million LED bulbs, lamps and decorative lights annually for export to the United States, United Kingdom, European Union and Middle Eastern markets.
The project is expected to create jobs for 306 Bangladeshi nationals.
An agreement was signed between the Bangladesh Export Processing Zones Authority (BEPZA) and Ecolet on August 27 in Dhaka.
Md Tanvir Hossain, Member (Investment Promotion) of BEPZA, and Ecolet Managing Director Mohammad Soliman signed the agreement.
BEPZA Executive Chairman Major General Mohammad Moazzem Hossain said the investment would support the authority’s efforts to diversify Bangladesh’s export basket by promoting technology-oriented electrical and electronics manufacturing alongside traditional export sectors.