Deshbandhu creates 5,000 jobs thru expansion

Deshbandhu Group yesterday claimed that it has created 5,000 new jobs in the last one year after investing Tk 800 crore to expand production.

The company, which manufactures consumer goods, cement, textiles and a host of other products, invested around Tk 800 crore in 2021 to expand its activities despite the Covid-19 pandemic.

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The gamble ultimately paid off though as Deshbandhu Group is currently seeing higher sales.

Among other subsidiaries, the company invested in its food and beverage unit, packaging factory, and apparel factories even amid the coronavirus situation, said Md Zakir Hossain, a director of the group.

He made this comment while speaking to reporters at a factory visit to units in Dhaka and Narsingdi.

The Russia-Ukraine war that began soon after the pandemic ended has impacted the global economy, which is a big concern for export-based companies such as his.

So, turnover grew but it was expected to rise much more. However, the group employed new people and continued to pay their salaries regularly amid the pandemic," Hossain added.

The group's yearly turnover rose 16 per cent to Tk 2,800 crore in the last financial year, according to a press release from the company.

Besides, the combined employment across all concerns of Deshbandhu Group rose to around 25,000 at present from 20,000 in 2021 due to the recent investment, it said.

Of the Tk 800 crore spent, around Tk 200 crore was invested in the company's food and beverage concern.

Meanwhile, the export-oriented Deshbandhu Packaging received an investment of Tk 230 crore while the sweaters and apparel concerns got Tk 250 crore and other concerns received around Tk 120 crore.

The group is now expanding its cement factory, which will also create a huge number of jobs once complete, Hossain said.

Top officials of the group's apparel and textile concerns informed their sweater exports were initially impacted due to the war.

However, it has since become successful in attracting new buyers from abroad to recover any decline in shipments.

"Hopefully, the result of this expansion will be seen at a higher pace in the upcoming period," the officials said.