Sky Bees Ltd to invest $45.95m in BEPZA EZ

First factory to manufacture drones

October 04, 2024 00:00:00

Member (Investment Promotion) of BEPZA Md Ashraful Kabir and Managing Director of Sky Bees Limited Josim Uddin Ahmed signed the agreement at the BEPZA Complex in the city on Thursday.

Sky Bees Limited, a local company, will invest US$ 45.95 million to establish an Unmanned Aerial Vehicle (UAV, commonly known as drone) manufacturing industry in the BEPZA Economic Zone (BEPZA EZ), reports BSS.

This will be the first factory to manufacture drones in the zones under BEPZA, creating employment opportunities for 55 Bangladeshi nationals.

In this connection, the BEPZA signed an agreement with Sky Bees Limited at the BEPZA Complex in the city on Thursday.

Member (Investment Promotion) of BEPZA Md Ashraful Kabir and Managing Director of Sky Bees Limited Josim Uddin Ahmed signed the agreement on behalf of their respective organisations.

BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.

The company will produce annually 7,314 pieces of different kind of UAV for agricultural pesticide spray, fire fighting, emergency rescue, delivery of products and services, cinematography and mapping.

During the lease signing ceremony, Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman appreciated the decision of Sky Bees Limited to invest in BEPZA EZ, stating that the authority always encourages investment in diversified products within its EPZs and BEPZA EZ.

He thanked the company for choosing BEPZA EZ as their investment destination for producing high-tech and diverse products, such as drones. The Executive Chairman further commended the initiative, noting that this venture marks the country's first investment in UAV production and is expected to play a crucial role in expanding Bangladesh's export basket.

Member (Engineering) Mohammad Faruque Alam, Member (Finance) ANM Foyzul Haque, Executive Director (Admin) ASM Zamshed Khondaker, Executive Director (Investment Promotion) Md. Tanvir Hossain along with Chairman of Sky Bees Limited Md Mashud Razzaq were present during the signing ceremony.

A total of 35 companies, including Sky Bees Limited, signed agreements with BEPZA to invest in the BEPZA EZ with a total proposed investment of $850.5 million.