Electronics Production | December 16, 2011

LG may invest in Bangladesh factory

Korean LG Electronics may establish a factory in Bangladesh in a joint venture with Butterfly Marketing, worth a total investment of $500 million, according to local media reports.
Mustafizur Rahman Shazid, director (sales & marketing) of LG products distributor Butterfly Marketing Ltd, told the Daily Star that the first phase of the project will begin next year.

The factory will manufacture LCD television, refrigerator, air-conditioner and other home appliances according to local media.

Shazid said the factory will be set up at Bhaluka in Mymensingh and will employ approximately 5000 people.

LG Electronics informed Industries Minister Dilip Barua of their intention to invest in Bangladesh yesterday.


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