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In a major initiative to revive underutilized state assets and attract fresh investment, the government has identified 43 state-owned enterprises for private sector participation.
The move, taken by the Bangladesh Investment Development Authority (BIDA) following directives from Prime Minister Tarique Rahman, aims to increase industrial production, create employment and ensure the productive use of government-owned assets.
On Sunday, BIDA published the names, locations and asset details of the enterprises, highlighting that they collectively occupy more than 10,000 acres of strategically located industrial land with existing infrastructure, including road connectivity, electricity, gas and water.
According to BIDA, the assets will be made available through various investment models, including long-term leasing, joint ventures, management transfer and strategic partnerships, depending on investor interest and project requirements.
Most of the enterprises are currently incurring losses, remain closed, or are operating on a limited scale, offering significant opportunities for private investors to modernize and revive them.
Among the listed enterprises are five major industrial units in the steel and heavy engineering sector.
These include the Eco-Friendly Modern Steel Mill in Chhaipukuria, Bogura, a newly built green facility ready for commercial operation under private management or a joint venture.
The General Electric Manufacturing Company Limited (GEMCO) in North Patenga, Chattogram, which manufactures heavy electrical equipment, is partially operational and requires technological upgrades to meet international standards.
Pragoti Industries Limited (PIL), the country’s only state-owned automobile assembler located in Barabkunda, Sitakunda, Chattogram, is operating on a limited scale and offers substantial scope for expansion through private partnership.
Renwick, Jajneswar & Co. (Bangladesh) Ltd. in Kushtia, a long-established manufacturer of sugar mill machinery, has remained unprofitable for years and has been earmarked for comprehensive modernization.
Atlas Bangladesh Limited in the Tongi Industrial Area of Gazipur, which assembles motorcycles, is also operating at a limited capacity and is open to strategic investment.
BIDA has also identified four advanced industrial technology and renewable energy-related plants for potential technology-focused investors.
These include AFCCAL’s Premium Float Glass, Solar Glass and Solar Panel Plant in Ashuganj, Brahmanbaria, which is partially operational and has significant potential in the renewable energy sector.
Usmania Glass Sheet Factory Limited in Kalurhat, Chattogram, is another high-tech glass manufacturing facility that is either closed or operating on a limited scale.
The UF-85 Plant of GPFPLC in Palash, Narsingdi, a chemical technology-based manufacturing unit, has also been listed for redevelopment.
In addition, GPFPLC’s WPP Bag Factory with Inner Liner at Ghorashal-Palash, an advanced industrial packaging facility, has been opened for strategic private investment.
BIDA said revitalising these enterprises through private investment is expected to improve productivity, create thousands of jobs and maximise the economic value of state-owned industrial assets.