Singer investing $78m in new plant

Singer Bangladesh is investing about $78 million to set up a new home appliance manufacturing plant inside the special economic zone in Narayanganj to expand local production of its products, according to company officials.

The  home appliance manufacturer and retailer, in association with Arcelik, the flagship company of Koç Group, yesterday inaugurated the construction of their very first state-of-the-art manufacturing unit in the country, they said.

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The new unit will produce refrigerators, televisions, washing machines, air conditioners and other major home appliances, which will in turn decrease the imports of such items.

In addition, the facility will generate around 4,000 employment opportunities while also developing the local supplier base that will cater to the industry in the future, the officials said during a press briefing at the Radisson Blu Dhaka Water Garden.

At the event, Dr Fatih Kemal Ebiclioglu, president of Durable Goods Companies of Koc Holding, said they hope this initiative will increase the manufacturing capacity of Singer Bangladesh and strengthen its position in the local market.

Ebiclioglu, who hopes the new unit will go into production by 2023, then said they would consider exporting products made at the new plant after catering to domestic demand.

Cemal Can Dincer, chief commercial officer of Arcelik, said this investment marks a new chapter in their journey in Bangladesh.

"With the support of our new factory, we are planning to locally produce 90 per cent of our products for local consumers," he added.

MHM Fairoz, managing director and chief executive officer of Singer Bangladesh, said the company's new state-of-the-art manufacturing facility will be built according to the gold standards of LEED.

LEED is a green building certificate that is recognized all over the world.

He went on to say that Singer will bring the know-how on energy-efficient products and production technologies to Bangladesh, and this will help the country transition to a low-carbon economy.

"Besides, Singer's green factory in Bangladesh's special economic zone will make a significant contribution to economic activity and employment," he said.

Nihat Bayiz, chief technology officer of Arçelik, was also present at the event.

Mustafa Osman Tarun, ambassador of Turkey to Bangladesh; Abdul Azim Chowdhury, additional secretary and executive member of the Bangladesh Economic Zones Authority, and other high officials and stakeholders were present at the ground breaking ceremony earlier the same day.

Koç Holding is the only Turkish company represented in the global Fortune 500 list. Arcelik acquired the holding company of Singer Bangladesh in 2019.

Koc Group envisions sustainability as a business model and places it at the center of all its operations. As such, Arcelik is committed to net-zero emissions by 2050 to tackle the climate crisis.

The group aims to expand their sustainability vision to every country they operate in and create value for all people and the planet, and their investments in Bangladesh will continue with this understanding, according to Singer Bangladesh.