Kiam Metal plans to set up Tk 850cr glassware factory

Kiam Metal Industries, a sister concern of BRB Group, plans to make a foray into the country's burgeoning glassware market by setting up a Tk 850 crore manufacturing unit.

"We will begin construction in May if the Bangladesh Economic Zones Authority (Beza) provides the required land," said Md Mizber Rahman, managing director of Kiam Metal Industries.

The company has already submitted a proposal to Beza, seeking 30 acres of land at the Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram.

"Our target is to complete the implementation work within 14 months," he added.

According to Rahman, the company will fund 30 per cent of the project through equity while the remaining 70 per cent will be financed by local banks. The project will create around 2,500 opportunities for direct employment.

Beza Executive Chairman Paban Chowdhury appreciated the initiative saying it would help diversify the country's exports.

"Bangladesh needs to promote such initiatives," he said, adding that Beza will examine the proposal before allotting any land as needed.

The domestic demand for glassware is around 1.3 crore pieces per month, or roughly Tk 140 crore, industry insiders say.

However, there is no reliable data on the market's actual size.

Local manufacturers Nasir Glassware and GMS cater to 65 per cent of the country's demand while the rest is imported from countries such as China, France and Indonesia.

The demand for glassware rose steadily over the past decade thanks to a growing middle-class and increasing number of restaurants and hotels across the country.

Kiam Metal Industries began its journey back in 1990 with a kitchenware manufacturing facility in Kushtia.

Being a pioneer in the industry, the company has since become the largest kitchenware producer in Bangladesh.

Kiam Metal Industries manufactures non-stick cookware, aluminium utensils, enamelware and a host of other kitchen products that can substitute imports for domestic consumption.

"Not long ago, these products were imported but now, the quality products made by Kiam Metal Industries have won the hearts of consumers," said Rahman.

After meeting domestic demand, the company exports its products to various destinations, including the US, Canada, Dubai and Australia.