Meghna Group of Industries

Last updated
Meghna Group Of Industries
Type Private
Industry Conglomerate
Founded1976;47 years ago (1976) in Dhaka, Bangladesh
FounderMostafa Kamal
Headquarters Gulshan,
Dhaka
,
Bangladesh
Key people
Mostafa Kamal (Chairman & Managing director)
RevenueIncrease2.svg ৳200 billion
US$2.5 billion (2017)
Number of employees
35,000 (2020)
Website mgi.org
Footnotes /references
[1] [2] [3]

Meghna Group of Industries (MGI) is one of the largest Bangladeshi industrial conglomerates. [4] The industries under this conglomerate include chemicals, cement, consumer products, real estate, insurance, securities, utilities, etc. [5]

Contents

History

1970s

Meghna Group traces its origins to Kamal Trading Company, established in 1976 by Mostafa Kamal. But early in the business, poor quality products were seized by customs, jeopardizing his first venture into small-scale imports.

1980s

The company has encountered fluctuations and challenges throughout its journey, experiencing both periods of success and setbacks. But in 1989, The company expanded its business by establishing a subsidiary company Meghna Vegetable Oil Industries Limited. Also in 1980s, the company became "Meghna Group" as a Group of Companies. [6] [7]

1990s

In May 1996, the Group made its foray into the financial sector by establishing Bangladesh National Insurance Company Limited (BNIC), with Mostafa Kamal assuming the position of chairman. [8] [9]

In 1999, Meghna Group established its another subsidiary company to manufacture small bags, United Fibre Industries Limited. [10]

2000s

In 2001, Meghna Group established United Feeds Limited to produce poultry feed. [11]

In 2002, Meghna Group established an export-oriented WPP bag manufacturing company Tanveer Polymer Industries Limited. To further enhance their Bag manufacturing capabilities, the group added a new plant in 2009, Global AD Star Bag Industries Limited. [10] The group entered into the CNG and Chemical business and established Everest CNG Refueling & Conversion Limited & Tasnim Chemical Complex Limited. [12] [13]

2010s

In 2011, Meghna Group founded Meghna Aviation Limited as a helicopter rental service and owns four helicopters. [14] [15]

In June 2013, Mr. Kamal bought Ekattor TV's 50% of shares from its founder Mozammel Hossain and entered into the news media business by holding the ownership under Meghna Group. [16] [17] Later the Channel recognized as the fifth biggest publisher of fake news in Bangladesh by Rumor Scanner Bangladesh, a fact-checking organization. [18]

In 2016, Meghna Group planned to build a PVC factory in the country's first private economic zone, Meghna Economic Zone. [19] [20]

In 2017, The Group launched Sonargaon Steel Fabricate Limited. [21]

In March 2018, Meghna Group announced an investment of 300 million USD in the Meghnaghat Economic Zone to build eight new manufacturing units. [22] At the June of this year, Meghna Sugar Refinery Limited, a sister concern of the Group received an 82 million USD loan from a consortium of German Development Finance Institution, FMO, Oesterreichische Entwicklungsbank AG, and the Islamic Corporation for the Development of the Private Sector. [23] Its factory has 3000 tonnes sugar refine capacity per day. [24]

2020s

In March 2021, The Meghna Group of Industries entered the shipping business by launching two oceangoing vessels, MV Meghna Princess and MV Meghna Adventure, with a carrying capacity of 62,500 tonnes each, further expanding their fleet to a total of eight vessels. [25]

In the August of this year, the Group also entered the ceramic business with the brand Fresh Ceramics under Meghna Ceramic Industries Limited. The group invested around 500 crore taka in building its manufacturing unit at Narayanganj District. [26] [27]

In April 2022, Meghna Group initiated to build of its third economic zoneCumilla Economic Zone with an investment of 1.2 billion BDT(1200 Crore taka) in 350 acres of land. [28]

The group also started construction for its manufacturing unit for rice mill and rice bran oil plant at Bogra District under one of its sister concern, Tanveer Foods Limited in this year. [21] And runs its business by storing 2000 metric tons of paddy with its under-construction manufacturing unit. Thus, the foods were seized by the Directorate General of Food at the end of this year. [29]

Its ceramic company Meghna Ceramic Industries Limited became the member of Bangladesh Ceramic Manufacturers & Exporters Association (BCMEA) at the mid of August of this year. [30]

In January 2023, Meghna Group plans to establish another rice mill at Naogaon District with an investment of 7 billion BDT(700 crores Taka). [21] Later in March, Tanveer Foods Limited (TFL) got an investment of 35 million USD from International Finance Corporation (IFC). [31]

In 2023, MGI launched four new oceangoing vessels MV Meghna Victory, MV Meghna Prestige, MV Meghna Hope and MV Meghna Progress, with a carrying capacity of 66000 tonnes each, further expanding their fleet to a total of twenty-two vessels. [32]

List of economic zones

Meghna Group of Industries (MGI) owned and operated three private economic zones among twenty-nine in Bangladesh under Bangladesh Economic Zones Authority (BEZA). [33] [34]

Sn.NameGazetted onLand SizeEmployment OpportunitySuitable IndustriesCost of InfrastructureLocationAuthorityRef.
1Meghna Economic Zone (MEZ)18 August 2016245 acres20,000+Pulp & Paper
Tissue,
Sanitary Napkin,
Baby Diaper,
Power Plant,
Oil Refinery,
Flour Mill,
PVC (Resin) Plant,
Petrochemicals,
Ceramics
LPG plant etc.		175 million USDMeghna Ghat, Sonargaon, Narayangonj Bangladesh Economic Zones Authority (BEZA) BEZA Website [35] [36]
2Meghna Industrial Economic Zone (MIEZ)21 September 2017110 acresBeverage,
Food items,
Fiber bag,
Steel Construction,
Plastic, Packaging Film,
Pharmaceutical Bottles,
Garments Accessories,
Plastic items,
Chemicals etc.		600 million USDTipordi, Mograpara, Sonargaon, Narayangonj BEZA Website [37]
3Cumilla Economic Zone (CEZ)13 April 2022245 acres50,000+2 billion USD Meghna Upazila, Cumilla District [34] [38]

Subsidiaries

See also

Related Research Articles

<span class="mw-page-title-main">Narayanganj District</span> Place in Dhaka, Bangladesh

Narayanganj District is a district in central Bangladesh which is a part of the Dhaka Division. It is smallest district in Bangladesh.It is home to the ancient city of one of the oldest industrial districts in the country. The district lies on the banks of the Shitalakshya River and the Meghna River. It is an industrial hub and plays an important part in the country's jute trade, plant processing and sector. It is nicknamed the "Dundee of Bangladesh" due to the presence of many jute mills.

<span class="mw-page-title-main">Bangladesh Export Processing Zone Authority</span>

The Bangladesh Export Processing Zones Authority (BEPZA) is an agency of the Government of Bangladesh and is administered under the jurisdiction of the Prime Minister's Office. Its objective is to manage the various export processing zones in Bangladesh. BEPZA currently oversees the operations of eight export processing zones (EPZ). A ninth zone is scheduled to open in the future. Recently government has announced that in 15 years 100 new EPZ and SEZ will be established. Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc is the current Executive Chairman of BEPZA. The Government provides numerous incentives for investors for opening factories in EPZs. For example, new factories enjoy tax holidays for 5 years. Also, labour unions and other activities that are often viewed detrimental to productivity, are banned inside the EPZs. In order to stimulate rapid economic growth of the country, particularly through industrialization, the government has adopted an 'Open Door Policy' to attract foreign investment to Bangladesh. The BEPZA is the official organ of the government to promote, attract and facilitate foreign investment in the EPZs. Besides, BEPZA as the competent Authority performs inspection & supervision of the compliances of the enterprises related to social & environmental issues, safety & security at work place in order to maintain harmonious labour-management & industrial relations in EPZs. The primary objective of an EPZ is to provide special areas where potential investors would find a congenial investment climate free from cumbersome procedures. Bangladesh's export revenue in FY23 is $55.55 billion, the highest amount ever.

Ananda Shipyards and Slipways is a Bangladeshi shipbuilding company, founded in 1983. It is a part of the Ananda Group of companies.

Navana Group is one of the largest conglomerates in Bangladesh with Navana Limited, one of its flagship companies, being the exclusive distributor of Toyota cars since 1964.

<span class="mw-page-title-main">Automotive industry in Bangladesh</span> Third largest in South Asia

The automotive industry in Bangladesh is the third largest in South Asia.

<span class="mw-page-title-main">Islami Bank Bangladesh Ltd</span> Bank in Bangladesh

Islami Bank Bangladesh PLC (IBBPLC) is an Islamic banking company based in Bangladesh. It became incorporated on 13 March 1983 as a public limited company under the Companies Act 1913 and started operation on 30 March, the same year. IBBPLC maintains its own ATM Booths with a country-wide shared ATM network. IBBPLC has been the largest private banking network in Bangladesh. When IBBPLC was established, it was the first bank in Southeast Asia to provide banking service based on Shariah. The bank has been listed with both Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd.

<span class="mw-page-title-main">S. Alam Group of Industries</span> Bangladeshi industrial conglomerate

S.Alam Group is a Bangladeshi industrial conglomerate. S. Alam Group also has investment in banking, leasing, insurance, stock brokering, and merchant banking. The industries under this group include food and allied products, steel, banking, consumer products, sugar, cement, power, energy, transportation, shipping, manufacturing, hospitality, financial institution, agro, trading, oil, and gas.

Bashundhara Group is a Bangladeshi conglomerate. It is one of the largest manufacturing companies in Bangladesh. It was incorporated in 1987 as a real estate company venture under the name East West Property Development Ltd (EWPD). The first project of EWPD turned out to be very successful. After then, the company grew very quickly. It presently owns more than 50 major concerns located throughout Bangladesh.

The N1 or Dhaka–Chittagong Highway is a main transportation artery in Bangladesh, between Dhaka, Comilla and Chittagong. Approximately 465 kilometres in length, the road links the country's two largest cities, Dhaka and Chittagong. The highway is known along various stretches as the Chittagong–Cox's Bazar Highway and the Cox's Bazar–Teknaf Highway. Currently four lanes with a eight-lane expansion underway, the N1 is the busiest road in the country and a top development priority. Construction of a larger Dhaka-Chittagong expressway has been proposed to decrease traffic on the highway.

<span class="mw-page-title-main">Mustafa Kamal (politician)</span> Bangladeshi politician and cricket official

Abu Hena Mohammad Mustafa Kamal commonly known as Lotus Kamal is a Bangladeshi politician and businessman. He is a member of the Jatiya Sangsad representing the Comilla-10 constituency and is a former Minister for Planning and current Minister of Finance. He is the owner of Lotus Kamal Group, which is a well-known Bengali textile industry. Kamal was awarded the Finance Minister of the Year 2020 by the Banker.

<span class="mw-page-title-main">Meghna Group</span>

Meghna Group is one of the largest Bangladeshi conglomerates. The industries under this conglomerate include automobile, light engineering (bicycle), cement, packaging, textile etc. Meghna Group was established by Bangladeshi entrepreneur Mizanur Rahman Bhuiyan. It is Bangladesh's largest bicycle manufacturer and said to be sold in Bangladesh, as well as in countries like Germany, UK and other parts of Europe. They are one of the top garments manufacturer in Bangladesh exporting to Europe high end fashion brands.

Bangladesh is the sixteenth-largest producer of natural gas in Asia. Gas supplies meet 56% of domestic energy demand. However, the country faces an acute energy crisis in meeting the demands of its vast and growing population. Bangladesh is a net importer of crude oil and petroleum products. The energy sector is dominated by state-owned companies, including Petrobangla and the Bangladesh Petroleum Corporation. Chevron, ConocoPhillips, Equinor, Gazprom and ONGC are major international companies engaged in Bangladesh's hydrocarbon industry, with Chevron's gas fields accounting for 50% of natural gas production.

Sadharan Bima Corporation is the one and only state-owned non-life insurer and reinsurer in Bangladesh under the Ministry of Finance, Government of the People's Republic of Bangladesh. Both Sadharan Bima Corporation, the non-life insurer, and Jiban Bima Corporation, the life insurer, were created under the Insurance Corporation Act of 1973 of Bangladesh.

<span class="mw-page-title-main">PowerPac Economic Zone (Mongla)</span>

PowerPac Economic Zone is a private export processing zone located in Mongla Port, Khulna. It is the first Special Economic Zone under PPP model. The site for the PowerPac economic zone has been identified as a land parcel of 205 acres that lies 40 km from Khulna city, 105 km from Jessore airport and 230 km from capital Dhaka.

The Bangladesh Economic Zones Authority or BEZA is an agency of the government of Bangladesh to govern special economic zones within the country's territory. It was instituted by the government in November 2010 under Bangladesh Economic Zones Act, 2010. The organisation is responsible for establishing and managing of SEZs of Bangladesh. It is run from Prime Minister's Office of Bangladesh. Shaikh Yusuf Harun is Executive Chairman of the Bangladesh Economic Zones Authority.

<span class="mw-page-title-main">Pan Pacific Sonargaon</span> Hotel in Dhaka, Bangladesh

Pan Pacific Sonargaon is a hotel in Dhaka. It is one of the oldest 5 star hotel in Bangladesh and is owned by the Government of Bangladesh and operated by Pan Pacific Hotels and Resorts.

Mirsarai Economic Zone is an industrial economic zone currently under development in Mirsarai Upazila, Chittagong on the bank of Sandwip channel. It is being developed on an area of 30,000 acres and is governed by Bangladesh Economic Zones Authority (BEZA) under the Bangladesh Economic Zone Act, 2010.

Unique Group is a Bangladeshi diversified conglomerate based in Dhaka. Salina Ali is the chairperson and Mohammad Noor Ali is the managing director of Unique Group.

Abul Khair Group is a Bangladeshi diversified conglomerate based in Chattogram. Abul Kashem is the chairperson and Abul Hashem is the managing director of Abul Khair Group. Abu Syed Chowdhury is the deputy managing director and Shah Shafiqul Islam is the group director. All four are sons of Abul Khair.

References

  1. ↑ "Board of Directors". Meghna Group of Industries. Archived from the original on 23 December 2013.
  2. ↑ মেঘনাপারের জাদুকর. Prothom Alo (in Bengali).
  3. ↑ Sajjadur Rahman (26 March 2018). "Meghna sets up eight new plants for $300m". The Daily Star .
  4. ↑ "Business with a vision". The Daily Star. 2016-10-25. Retrieved 2016-10-29.
  5. ↑ "Meghna opens five new units". The Daily Star. 2012-04-29. Retrieved 2016-10-29.
  6. 1 2 3 Rahman, Sajjadur (2017-05-20). "Meghna Group keeps roaring". The Daily Star. Retrieved 2023-02-22.
  7. 1 2 "About | Meghna Group of Industries". www.mgi.org. Retrieved 2023-02-22.
  8. 1 2 "Financial Institutions". mgi.org. Retrieved 2023-02-22.
  9. ↑ "Board of Directors". BNIC.
  10. 1 2 3 4 "Fibre". mgi.org. Retrieved 2023-02-22.
  11. 1 2 "Feeds". mgi.org. Retrieved 2023-02-22.
  12. 1 2 "Basic Chemicals". mgi.org. Retrieved 2023-02-21.
  13. 1 2 "CNG Refueling & Conversion". mgi.org. Retrieved 2023-02-22.
  14. 1 2 "Aviation". mgi.org. Retrieved 2023-02-22.
  15. ↑ "Corporate commercial use of helicopters rising high".
  16. 1 2 "Media". mgi.org. Retrieved 2023-02-22.
  17. ↑ বিক্রি হয়ে যাচ্ছে টিভি চ্যানেলের মালিকানা. Prothom Alo (in Bengali). 20 October 2013. Retrieved 2022-04-11.
  18. ↑ "Fact-checkers find no New Age report as fake".
  19. ↑ "Meghna to build PVC plant at its economic zone". The Daily Star. 2016-08-24. Retrieved 2023-02-22.
  20. ↑ Chowdhury, Sarwar A. (2016-07-21). "Meghna Group to get go-ahead for first private economic zone". The Daily Star. Retrieved 2023-02-22.
  21. 1 2 3 4 Hossain, Moinul (2023-01-25). "Meghna Group of Industries, TK Group enter rice milling". The Daily Star. Retrieved 2023-02-22.
  22. ↑ Rahman, Sajjadur (2018-03-26). "Meghna sets up eight new plants for $300m". The Daily Star. Retrieved 2023-02-22.
  23. 1 2 "Meghna bags $82m foreign loan for sugar plant". The Daily Star. 2018-11-28. Retrieved 2023-02-22.
  24. ↑ "Sugar crisis hits consumers".
  25. ↑ "Meghna Group launches two oceangoing vessels". The Daily Star. 2021-03-11. Retrieved 2023-02-22.
  26. ↑ "Meghna Group now making ceramic tiles". 24 August 2021.
  27. 1 2 "Meghna Group enters ceramic sector". The Daily Star. 2021-08-23. Retrieved 2023-02-22.
  28. ↑ "Meghna to set up economic zone in Cumilla". The Daily Star. 2022-04-11. Retrieved 2023-02-22.
  29. ↑ "2 thousand metric tons of paddy seized from Meghna Group warehouse". December 2022.
  30. ↑ "BCMEA || Member Info".
  31. ↑ "IFC to provide $35m to Tanveer Food Ltd".
  32. ↑ Hossain, Moinul (2023-02-26). "Meghna Group adds four new oceangoing vessels to fleet". The Daily Star. Retrieved 2023-03-20.
  33. ↑ "Economic Zones Site « BEZA".
  34. 1 2 "Meghna to set up economic zone in Cumilla". 11 April 2022.
  35. ↑ "Meghna Economic Zone (MEZ) « BEZA".
  36. ↑ প্রধানমন্ত্রীর কার্যালয় প্রজ্ঞাপন (PDF). Bangladesh Gazette (in Bengali). 18 August 2016.
  37. ↑ "Meghna Industrial EZ « BEZA".
  38. ↑ "Cumilla Economic Zone gets final govt nod".
  39. ↑ "Edible Oil". mgi.org. Retrieved 2023-02-21.
  40. ↑ "Cement". mgi.org. Retrieved 2023-02-21.
  41. ↑ "Bricks & Blocks". mgi.org. Retrieved 2023-02-21.
  42. ↑ "Petrochemicals". mgi.org. Retrieved 2023-02-21.
  43. ↑ "Meghna Economic Zone". mgi.org. Retrieved 2023-02-21.
  44. ↑ "Meghna Industrial Economic Zone". mgi.org. Retrieved 2023-02-21.
  45. ↑ "Cumilla Economic Zone". mgi.org. Retrieved 2023-02-22.
  46. ↑ "Transport & Logistics". mgi.org. Retrieved 2023-02-22.
  47. ↑ "LPG". mgi.org. Retrieved 2023-02-22.
  48. ↑ "Power Generation". mgi.org. Retrieved 2023-02-22.
  49. ↑ "Tissue Paper". mgi.org. Retrieved 2023-02-22.
  50. ↑ "Exercise Book". mgi.org. Retrieved 2023-02-22.
  51. ↑ "Printing and Writing Paper". mgi.org. Retrieved 2023-02-22.
  52. ↑ "Ball Pen". mgi.org. Retrieved 2023-02-22.
  53. ↑ "Corrugated Packaging". mgi.org. Retrieved 2023-02-22.
  54. ↑ "Foil Packaging". mgi.org. Retrieved 2023-02-22.
  55. ↑ "Diaper". mgi.org. Retrieved 2023-02-22.
  56. ↑ "Seeds Crushing". mgi.org. Retrieved 2023-02-22.
  57. ↑ "Seeds Crushing". mgi.org. Retrieved 2023-02-22.
  58. ↑ "Shipping". mgi.org. Retrieved 2023-02-22.
  59. ↑ "Capital Market". mgi.org. Retrieved 2023-02-22.
  60. ↑ "Hospitality". mgi.org. Retrieved 2023-02-22.
  61. 1 2 "Health Care". mgi.org. Retrieved 2023-02-22.
  62. ↑ "Information Technology". mgi.org. Retrieved 2023-02-22.
  63. ↑ "Real Estate". mgi.org. Retrieved 2023-02-22.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.