In expansion mode, Singer opens new plant in Narayanganj

Singer Bangladesh is expanding its operations with a new home appliances plant at the Bangladesh Special Economic Zone (BSEZ) in Araihazar, Narayanganj.  

The board of directors approved the project on March 30, 2022, as part of the company's strategy to boost local manufacturing.  

So far, Singer has invested Tk 603.89 crore through multiple transactions, with Tk 580.33 crore specifically allocated for machinery and plant construction, according to a disclosure to the Dhaka Stock Exchange (DSE) today.  

The expansion is expected to enhance production efficiency and meet the growing demand for home appliances in Bangladesh.  

Kazi Ashiqur Rahman, company secretary of Singer Bangladesh, said the company has informed the DSE that it will propose a resolution at its upcoming annual general meeting (AGM) on April 22, 2025, to formalise the investment.  

"The investment has already been made, and production has started at the new plant," he said.  

The resolution seeks shareholder approval to add tangible assets worth Tk 603.89 crore, as recorded in the company's latest financial statements.  

The approval is required under Bangladesh Securities and Exchange Commission (BSEC) regulations issued on March 22, 2021, Rahman said, adding that the process ensures transparency, regulatory compliance, and investor confidence.  

Once fully operational, the new plant is expected to increase production capacity, reduce reliance on imports, and support the government's industrial growth initiatives within designated economic zones.