Bangladesh to make optical fibre cables

Bangladesh Cable Shilpa Ltd in Khulna will start producing optical fibre cables from January.
The factory, which went into commercial production in 1973 after its establishment in 1967, has also decided to go public from March to raise fund for its new project.
To this end, an agreement was signed on Monday with Swadesh Investment Management Ltd, which would work as issue manager.
Managing Director of Cable Shilpa Bahadur Ali and Managing Director of Swadesh Investment Mamun Ahmed inked the deal in the conference room of the plant.
Cable Shilpa, a state-owned enterprise, will offload its shares as intended by the government, said Ali.
“Swadesh has been asked to complete all the processes for offloading our shares within the stimulated time,” said Lutfor Rahman, manager (administration) of the plant.
The decision to assign Swadesh Investment for the job was taken in the 161st meeting of the board of the cable factory.
Cable Shilpa will also set up a power cable and electrical house wire plant in Khulna.
The company has a reputation for not incurring financial losses since its inception. It earned a net profit amounting to Tk 12.83 crore in the last financial year, said its managing director.
Optical fibre cables to be produced in this plant will meet the domestic demand, said Ali.
At present, Bangladesh imports such cables from different countries including India and China.