MEP Hi-Tech Industrial Park Limited, a concern of MEP Group, will invest Tk 200 crore to set up a modern electrical and electronic products manufacturing facility on nearly 10 acres of land at the National Special Economic Zone in Chattogram.

A land lease agreement was signed between the Bangladesh Economic Zones Authority (Beza) and MEP Hi-Tech Industrial Park Limited at Beza’s office in Dhaka’s Agargaon today, according to a press release.

The factory will produce electrical wires, switches and sockets, fans, LED lights, circuit breakers, and other related products, aiming to reduce the country’s reliance on imports and expand local manufacturing capacity.

Established in 1974, MEP Hi-Tech Industrial Park Limited is a business conglomerate with around 2,000 corporate clients and more than 1,000 distribution networks nationwide.

Construction of the project is scheduled to begin in April 2026 and is expected to be completed by December 2028, with commercial production targeted for January 2029.

Once fully operational, the facility is expected to generate employment for around 2,000 people directly and indirectly.

Saleh Ahmed, executive member for investment development at Beza, said the Tk 200 crore investment by a domestic industrial group would support import substitution, export diversification, and technology-driven industrialisation.

Jahangir Alam Chaklader, managing director of MEP Group, said the project would strengthen local production of electrical goods and contribute to the country’s export prospects in the future.

Currently, around 15 industrial units are in operation at the National Special Economic Zone, while about 20 more are under construction.