Energypac Power Generation yesterday inaugurated an industrial park in a bid to export locally manufactured generators, enhance its current manufacturing capacity and assemble eco-friendly electric commercial vehicles.
The country's leading power engineering company invested Tk 380 crore in the park, creating employment for 550 people.
"Bangladesh will be like Japan and China with extraordinary manufacturing prowess and we want to export Bangladesh-made products to neighbouring countries India, Nepal and Bhutan," said Humayun Rashid, managing director and CEO of Energypac Power Generation, while inaugurating the park at a virtual event.
"The industrial park will help us strengthen the local manufacturing industry of automotive and steel building," he said.
Located at Sreepur in Gazipur on 52 bighas of land, the industrial park will also boost the pre-engineering steel building sector.
It houses a world-class plant capable of testing loads of up to 1.5 MW and producing 500 generators of a GLAD brand.
Enerygypac plans to build a world-class electric distribution board (DB) box that will be capable of testing loads of up to three MW and increase the capacity of the plant to produce 1,000 GLAD generators from the current 500 for export, he added.
The park also has an assembling plant for JAC vehicles with a capacity to churn out 1,200 units every year.
"Our engineers in the park are working on a project to provide low-cost houses for the people. The project, which aims to provide a secure house for everyone, will build a house for Tk 5 lakh for a family of four," he said.
There will also be a plant in the park for prefabricated steel buildings with a yearly production capacity of 1,800 MT.
A plant in the park will manufacture chassis and different parts of buses teaming up with Ankai, a Chinese automobile company.
Enerygypac has plans for manufacturing nuts and bolts, wear testing machines and profile sheets, and marketing those as well, with an aim to contribute to the infrastructural development of the country along with contributions in the power and transport sector.
The listed company soon plans to establish storage facilities along with mezzanine floors and innovative technologies to maximise production.
Industries Minister Nurul Majid Mahmud Humayun said Energypac is a renowned organisation and has taken various initiatives in different sectors, including energy and transportation, to expedite the country's economic development.
"I have personally visited various activities of Energypac and witnessed the development. It is manufacturing and exporting generators and other electrical equipment, gaining advantages against the world's best competitors, which creates employment opportunities nationwide," he added.
Stocks of Energypac Power Generation increased 6.95 per cent to Tk 43.10 on Thursday.