Pran-RFL ramps up lift production

Pran-RFL Group has been manufacturing lifts in Bangladesh since 2018 and has so far invested around Tk 200 crore to reduce dependence on imported ones, said RN Paul, managing director of RFL Group.

The group began its business in 1988 with lift imports and started producing the devices locally at its factory in Danga Industrial Park in Narsingdi under the brand Property Lifts, he said.

Initially, the lifts were made using imported components, but gradually the company expanded its investment and began manufacturing various parts in-house, he told journalists yesterday during a visit to the Narsingdi factory.

Property Lifts is currently adding more than 40 percent value, although basic raw materials are still imported, Paul said.

The company has set a target of producing 80 percent of the components locally within the next five years, he said.

In the past seven years, Property Lifts' sales have increased nearly sixfold, with the company selling 329 lift units in the country in 2024, he said.

During the visit, this correspondent observed that there is a modern testing tower at the production unit, where elevators can be tested at a speed of 3 metres per second.

Currently, 210 employees are working at the factory, and more than 1,000 people are involved in installation and servicing.

The company plans to hire an additional 5,000 technicians to expand its services nationwide.

Industry people said demand for elevators is mainly concentrated in large cities — 45 percent in and around Dhaka and 20 percent in Chattogram.

Around 4,500–5,000 units worth Tk 1,300 crore are sold annually in Bangladesh, and the industry is growing at 10 to 15 percent every year, industry insiders said.

Paul said through their long experience in this sector, they have seen that customers want world-class lifts with assured safety and security, but they also want them at an affordable price, tailored to their needs.

He said the price of imported elevators was high, and the opportunity to install customised elevators in old buildings was also limited.

Many customers wanted affordable lifts for a 4-storey house or a 3-storey market, he said.

Considering that reality, RFL took the initiative to set up a lift factory in Bangladesh, he added.

Apart from Property Lifts, Walton is also currently manufacturing lifts in Bangladesh.

Passenger lifts, cargo lifts, hospital lifts, home lifts, capsule lifts, hydraulic lifts, and scissor lifts are now available in the country's market, and about 70–80 percent of them are imported.

Depending on the capacity and features, the price of these elevators ranges from Tk 15 lakh to Tk 1 crore.

The price of domestically produced elevators is Tk 5 to Tk 7 lakh lower than that of imported elevators.

Policy support is essential for the elevator industry, Moynul Islam, chief operating officer of the company, told journalists.

If the use of domestic products is not encouraged, it will be difficult to compete with imported products, he said.

To deliver world-class lifts to customers, Property Lifts not only focused on advanced motors and control panels but also set up a factory equipped with modern testing facilities and quality control labs, Islam added.