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Nitol Niloy Group to manufacture exportable insulators in Bangladesh

  • Sun Online Desk
  • 14th August, 2022 06:01:17 PM
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Nitol Niloy Group to manufacture exportable insulators in Bangladesh

A trusted name in the corporate world of the country, Nitol Niloy Group will manufacture insulators domestically.

Nitol Niloy Group and USA based company Kinematics Inc. will jointly manufacture insulators at Chatok,Sunamganj, which will be completely exported abroad.

On this occasion, an agreement signing ceremony was organized at the office of Bangladesh Investment Development Authority. Executive Chairman of BIDA Md. Sirajul Islam was present on the occasion.

Abdul Matlub Ahmad, Chairman of Nitol Niloy Group, said that Tk 200 crore worth of insulators will be exported from the factory annually. Exports include - Egypt, Nepal, Bhutan, Nigeria, Kenya. US-based company Kinematic is investing in this project of 140 crores Taka. About 500 people will be employed directly and indirectly in our factory. As a result, our initiative will directly contribute to foreign exchange earnings and employment generation.

Joe Giblin, Chief of the Economic Unit of the USA Embassy in Dhaka,  Abu Memon, CEO of Kinematics Inc., Abdul Marib Ahmad, Vice Chairman of Nitol Niloy Group, Finance Director of Nitol Niloy Group,  Muhammad Salim were present at the agreement signing ceremony.