Local firm partners with Indian gr for poultry trade

Nitol-Niloy Group of Bangladesh and Amrit Group of India have agreed to set up a poultry industry in the country with a view to meeting the increased demand for poultry. In this connection, a joint venture deal for investing around US$ 10 million was signed between the two companies at a city hotel Saturday. Under the agreement, both companies will invest jointly in the country's fastest growing poultry industry like feed manufacturing, breeding farm, hatchery, commercial farming and chicken processing within two or three years. Abdul Musabbir Ahmed, Managing director of Nitol-Niloy group, a leading corporate house of Bangladesh and Harish Bagla, Managing Director of Amrit Group of Industries, a Kolkata based leading company in poultry sector, signed the Memorandum of Agreement (MoU) on behalf of their respective companies. Mr Bagla said this joint venture agreement will facilitate in producing poultry based meat production to meet the growing needs of protein at an affordable price. Under the joint venture a modern feed plant will initially be set up in the northern part of the country, he said. Mr Ahmed said this initiative will create a large number of employment opportunities in rural part of the country. Assistance general manager (Finance) of Amrit Group Ajay Kumar Guptha, Vice-president (Finance) Giriraj lakhotia, Co-coordinator chairman (Secretariat) of Nitol-Niloy group Abdul Halim and Vice-chairman Selima Matlub Ahmad were present on the occasion. - FE Report