Rahimafrooz Globatt enters China

http://www.thedailystar.net/newDesign/news-details.php?nid=162487

Rahimafrooz Globatt enters China

Source: http://www.globatt-battery.com/

Sayeda Akter

Rahimafrooz Globatt Ltd will export a $15 million consignment of maintenance-free batteries to China in three years. The company sent two consignments on Wednesday, the first export of such an item to China by any local company.

“We will export at least half a million units of maintenance-free automotive, tractor, and inverter batteries to Dynavolt, China, within the next three years,” said Munawar Misbah Moin, managing director of Rahimafrooz Globatt.

“We hope to earn revenues worth $15 million a year from this deal,” he said. “This is the country’s first ever export of engineered goods to China.”

“We are producing batteries designed specially for the markets of developed nations, including the US, Europe, Korea and Australia,” said Moin.

The company exported 1.75 lakh pieces of car batteries worth $5.5 million in October-June last fiscal year.

Globatt is a flagship project under Rahimafrooz’s global expansion plans that were put in place in August 2009. Its exports started in October of the same year.

The batteries, which will be free of maintenance costs, were exported to 12 countries, including all Saarc nations, except Pakistan, and Singapore, Kuwait, Qatar, United Arab Emirates, Tanzania, Angola and Namibia.

In addition, Rahimafrooz plans to export a million battery units to Australia and Europe by the end of this fiscal year.

The company’s projected revenue was around $28 million in 2009-10, which would grow to $70 million this year. It started to export to 18 countries in the South Asian and Asean regions, Middle East and Africa, and exported over 250,000 units so far, said Moin.

Earlier, Rahimafrooz doubled its annual automotive battery production capacity to 25 lakh units, Moin said, adding that the establishment of a world class manufacturing plant is a part of global strategic plans.

The Tk 110 crore project situated in Ishwardi EPZ is using the latest in technology, including business software solution applications and services. It went into production in May 2009.

The project received the country’s first-ever equity investment from Frontier Fund, a local partner of Brummer and Partners, Sweden’s largest hedge fund manager, in January 2009.

Founded in 1954, Rahimafrooz is the pioneer in producing industrial batteries, solar power and IPS (instant power system) in the country. The company also spearheaded the export of batteries to more than 40 countries.

Currently, the group has seven operating companies, three other business ventures and a non-profit social enterprise.

sayeda@thedailystar.net

Rahimafrooz Globatt enters China

http://www.thedailystar.net/newDesign/news-details.php?nid=162487

Rahimafrooz Globatt enters China

Source: http://www.globatt-battery.com/

Sayeda Akter

Rahimafrooz Globatt Ltd will export a $15 million consignment of maintenance-free batteries to China in three years. The company sent two consignments on Wednesday, the first export of such an item to China by any local company.

“We will export at least half a million units of maintenance-free automotive, tractor, and inverter batteries to Dynavolt, China, within the next three years,” said Munawar Misbah Moin, managing director of Rahimafrooz Globatt.

“We hope to earn revenues worth $15 million a year from this deal,” he said. “This is the country’s first ever export of engineered goods to China.”

“We are producing batteries designed specially for the markets of developed nations, including the US, Europe, Korea and Australia,” said Moin.

The company exported 1.75 lakh pieces of car batteries worth $5.5 million in October-June last fiscal year.

Globatt is a flagship project under Rahimafrooz’s global expansion plans that were put in place in August 2009. Its exports started in October of the same year.

The batteries, which will be free of maintenance costs, were exported to 12 countries, including all Saarc nations, except Pakistan, and Singapore, Kuwait, Qatar, United Arab Emirates, Tanzania, Angola and Namibia.

In addition, Rahimafrooz plans to export a million battery units to Australia and Europe by the end of this fiscal year.

The company’s projected revenue was around $28 million in 2009-10, which would grow to $70 million this year. It started to export to 18 countries in the South Asian and Asean regions, Middle East and Africa, and exported over 250,000 units so far, said Moin.

Earlier, Rahimafrooz doubled its annual automotive battery production capacity to 25 lakh units, Moin said, adding that the establishment of a world class manufacturing plant is a part of global strategic plans.

The Tk 110 crore project situated in Ishwardi EPZ is using the latest in technology, including business software solution applications and services. It went into production in May 2009.

The project received the country’s first-ever equity investment from Frontier Fund, a local partner of Brummer and Partners, Sweden’s largest hedge fund manager, in January 2009.

Founded in 1954, Rahimafrooz is the pioneer in producing industrial batteries, solar power and IPS (instant power system) in the country. The company also spearheaded the export of batteries to more than 40 countries.

Currently, the group has seven operating companies, three other business ventures and a non-profit social enterprise.

sayeda@thedailystar.net

Rahimafrooz Globatt enters China

http://www.thedailystar.net/newDesign/news-details.php?nid=162487

Rahimafrooz Globatt enters China

Source: http://www.globatt-battery.com/

Sayeda Akter

Rahimafrooz Globatt Ltd will export a $15 million consignment of maintenance-free batteries to China in three years. The company sent two consignments on Wednesday, the first export of such an item to China by any local company.

“We will export at least half a million units of maintenance-free automotive, tractor, and inverter batteries to Dynavolt, China, within the next three years,” said Munawar Misbah Moin, managing director of Rahimafrooz Globatt.

“We hope to earn revenues worth $15 million a year from this deal,” he said. “This is the country’s first ever export of engineered goods to China.”

“We are producing batteries designed specially for the markets of developed nations, including the US, Europe, Korea and Australia,” said Moin.

The company exported 1.75 lakh pieces of car batteries worth $5.5 million in October-June last fiscal year.

Globatt is a flagship project under Rahimafrooz’s global expansion plans that were put in place in August 2009. Its exports started in October of the same year.

The batteries, which will be free of maintenance costs, were exported to 12 countries, including all Saarc nations, except Pakistan, and Singapore, Kuwait, Qatar, United Arab Emirates, Tanzania, Angola and Namibia.

In addition, Rahimafrooz plans to export a million battery units to Australia and Europe by the end of this fiscal year.

The company’s projected revenue was around $28 million in 2009-10, which would grow to $70 million this year. It started to export to 18 countries in the South Asian and Asean regions, Middle East and Africa, and exported over 250,000 units so far, said Moin.

Earlier, Rahimafrooz doubled its annual automotive battery production capacity to 25 lakh units, Moin said, adding that the establishment of a world class manufacturing plant is a part of global strategic plans.

The Tk 110 crore project situated in Ishwardi EPZ is using the latest in technology, including business software solution applications and services. It went into production in May 2009.

The project received the country’s first-ever equity investment from Frontier Fund, a local partner of Brummer and Partners, Sweden’s largest hedge fund manager, in January 2009.

Founded in 1954, Rahimafrooz is the pioneer in producing industrial batteries, solar power and IPS (instant power system) in the country. The company also spearheaded the export of batteries to more than 40 countries.

Currently, the group has seven operating companies, three other business ventures and a non-profit social enterprise.

sayeda@thedailystar.net

Rahimafrooz Globatt enters China

http://www.thedailystar.net/newDesign/news-details.php?nid=162487

Rahimafrooz Globatt enters China

Source: http://www.globatt-battery.com/

Sayeda Akter

Rahimafrooz Globatt Ltd will export a $15 million consignment of maintenance-free batteries to China in three years. The company sent two consignments on Wednesday, the first export of such an item to China by any local company.

“We will export at least half a million units of maintenance-free automotive, tractor, and inverter batteries to Dynavolt, China, within the next three years,” said Munawar Misbah Moin, managing director of Rahimafrooz Globatt.

“We hope to earn revenues worth $15 million a year from this deal,” he said. “This is the country’s first ever export of engineered goods to China.”

“We are producing batteries designed specially for the markets of developed nations, including the US, Europe, Korea and Australia,” said Moin.

The company exported 1.75 lakh pieces of car batteries worth $5.5 million in October-June last fiscal year.

Globatt is a flagship project under Rahimafrooz’s global expansion plans that were put in place in August 2009. Its exports started in October of the same year.

The batteries, which will be free of maintenance costs, were exported to 12 countries, including all Saarc nations, except Pakistan, and Singapore, Kuwait, Qatar, United Arab Emirates, Tanzania, Angola and Namibia.

In addition, Rahimafrooz plans to export a million battery units to Australia and Europe by the end of this fiscal year.

The company’s projected revenue was around $28 million in 2009-10, which would grow to $70 million this year. It started to export to 18 countries in the South Asian and Asean regions, Middle East and Africa, and exported over 250,000 units so far, said Moin.

Earlier, Rahimafrooz doubled its annual automotive battery production capacity to 25 lakh units, Moin said, adding that the establishment of a world class manufacturing plant is a part of global strategic plans.

The Tk 110 crore project situated in Ishwardi EPZ is using the latest in technology, including business software solution applications and services. It went into production in May 2009.

The project received the country’s first-ever equity investment from Frontier Fund, a local partner of Brummer and Partners, Sweden’s largest hedge fund manager, in January 2009.

Founded in 1954, Rahimafrooz is the pioneer in producing industrial batteries, solar power and IPS (instant power system) in the country. The company also spearheaded the export of batteries to more than 40 countries.

Currently, the group has seven operating companies, three other business ventures and a non-profit social enterprise.

sayeda@thedailystar.net

Chinese Firm Gets 150-mw Sylhet Power Plant Deal

The cabinet committee on purchase yesterday approved a proposal of the power division to set up a 150 megawatt (MW) simple cycle gas turbine power plant at Kumargaon in Sylhet at a cost of Tk 704.52 crore (equivalent to US$ 101.5 million) to meet the growing demand of electricity in the eastern region of Bangladesh.

The decision, awarding the work to Chinese company M/S Shanghai Electric Group Company Ltd as lowest bidder, was taken at a meeting of the committee held at the cabinet division with the finance minister Abul Maal Abdul Muhith in the chair.

According to the tender proposal, the Chinese firm will supply and install the simple-cycle gas-turbine plant on a turnkey basis within 540 days from the signing of contract for the Power Development Board (PDB).

Muhith later told reporters that the committee approved the proposal for setting up the 150 MW plant in Kumargaon for reducing load shedding and generation loss of power in Sylhet area.

"We have selected M/S Shanghai Electric Group Company Limited of China as a lowest bidder to set up the new power station," he said.

The meeting also approved another proposal of the power division to amend the contract of joint venture of SNC-Lavalin International Inc of Canada and SMEC International Private Limited of Australia for management and supervision of implementation of the Siddhirganj Peaking power plant contract package No. S-33. The plant involved Tk 21.73 crore.

The committee also approved another proposal of the works ministry to construct of 360 residential flats, each having 1,336 square feet of floor space, for government officials.

Thursday's cabinet committee meeting was attended by agriculture minister Matia Chowdhury, planning minister AK Khandker, food minister Dr. Abdur Razzak, commerce minister Faruk Khan, communications minister Syed Abul Hossain as well as senior officials concerned.

UNB adds: Official sources said that the 150-MW simple-cycle plant is the first power project that has been approved by the Awami League-led grand alliance government since it assumed office 8 months ago.

However, Communications Minister Syed Abul Hossain's business company-SACO - is believed to be the local agent of the China-based Shanghai Electric that obtained the contract for the huge power plant.

A total of four companies had submitted bids for the project, and among them, Shanghai became lowest responsive bidder offering Tk 704.51 to be the project cost (which consists of Euro 39.87 million plus US$ 47 million plus Tk 202 million). It quoted the gas turbine's net capacity to be 142.250 MW.

The other bidders were China Chengda Engineering, Indian Bharat Heavy Electricals Limited (BHEL) and JV Gammon-Sadalmi Ltd.

The work for constructing two multi-storied buildings at Mirpur Section-2 as part of a project for building 360 flats was awarded to a lowest bidder at a cost of Tk 32.98 crore.

Bangladesh Govt to Sign 4000MW Power Plant Deals by December

Dhaka, Oct 12: The Bangladesh government will complete signing deals within December this year on setting up plants of 4000mw power.

Taufiq-e-Elahi, Prime Minister’s Adviser on power, disclosed this at a power plant contract signing ceremony at Budduyt Bhaban in the city on Tuesday (Oct 12).

Newly created state-owned North-West Power Generation Company Ltd (NWPGCL) signed the contract with China National Machinery Import & Export Corporation (CMC) to set up a 150mw duel-fuel power plant in Sirajganj. Site for the plant has been selected at west bank of Jamuna River near the Jamuna multipurpose bridge.

As per the deal, CMC will install the power plant on a turn-key basis at a cost of Tk 799.29 crore by May 2012.

However, the total cost of the project was estimated at Tk 962.50 crore. The government and Asian Development Bank will finance the project.

NWPGC will implement the project to improve the power supply situation in the country’s North-West region.

Vice President of CMC Li Guohua and Secretary of the NWPGCL Dipak Kumar Dhali signed the agreement on behalf of their respective sides.

The plant will be operated by natural gas when it is available. Otherwise, it will run by liquid fuel-diesel.

State Minister for Power and Energy Mohammad Enamul Haque, Power Secretary Abul Kalam Azad and Chinese Ambassador Zhang Xianyi. Senior officials of PDB and NWPGCL also spoke at the signing ceremon

Mongla EPZ to get $2m Chinese investment

Mongla EPZ to get $2m Chinese investment
Bangladesh Sangbad Sangstha . Dhaka

Evergreen Products Factory (Mongla) Limited will set up a fashionable wigs and hair related products manufacturing industry in the Mongla Export Processing Zone.

The 100 per cent foreign owned company will invest $2.048 million in setting up their unit and will produce fashionable wigs and hair related items. The company will also create employment opportunity for 225 Bangladeshi nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zone Authority and Evergreen Products Factory (Mongla) Limited at BEPZA Complex in Dhaka on Thursday.

Md Moyjuddin Ahmed, member (investment promotion) of BEPZA, and Chan Chi Wai Alfred, director of Evergreen Products Factory (Mongla) Limited, signed the agreement on behalf of their respective sides.

source:http://www.newagebd.com/2010/nov/13/busi.html#8

Mongla EPZ to get $2m Chinese investment

Mongla EPZ to get $2m Chinese investment
Bangladesh Sangbad Sangstha . Dhaka

Evergreen Products Factory (Mongla) Limited will set up a fashionable wigs and hair related products manufacturing industry in the Mongla Export Processing Zone.

The 100 per cent foreign owned company will invest $2.048 million in setting up their unit and will produce fashionable wigs and hair related items. The company will also create employment opportunity for 225 Bangladeshi nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zone Authority and Evergreen Products Factory (Mongla) Limited at BEPZA Complex in Dhaka on Thursday.

Md Moyjuddin Ahmed, member (investment promotion) of BEPZA, and Chan Chi Wai Alfred, director of Evergreen Products Factory (Mongla) Limited, signed the agreement on behalf of their respective sides.

source:http://www.newagebd.com/2010/nov/13/busi.html#8

Mongla EPZ to get $2m Chinese investment

Mongla EPZ to get $2m Chinese investment
Bangladesh Sangbad Sangstha . Dhaka

Evergreen Products Factory (Mongla) Limited will set up a fashionable wigs and hair related products manufacturing industry in the Mongla Export Processing Zone.

The 100 per cent foreign owned company will invest $2.048 million in setting up their unit and will produce fashionable wigs and hair related items. The company will also create employment opportunity for 225 Bangladeshi nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zone Authority and Evergreen Products Factory (Mongla) Limited at BEPZA Complex in Dhaka on Thursday.

Md Moyjuddin Ahmed, member (investment promotion) of BEPZA, and Chan Chi Wai Alfred, director of Evergreen Products Factory (Mongla) Limited, signed the agreement on behalf of their respective sides.

source:http://www.newagebd.com/2010/nov/13/busi.html#8