DHAKA: Pran, a leading food producer, is mulling to invest 10 million US dollar in a bicycle assembly plant which is primarily focused on export to the European Union markets. Production is to start next April.

PRAN-RFL Group is the Bangladeshi food-products corporation that is making an entry in the bicycle sector.

The new Generalised Scheme of Preferences (GSP) which went into force per January 1, 2014 and runs up to December 31, 2016, is the driving force behind the company`s decision to start the bike factory.

The plant will include two units one for domestic market and another for the foreign market, primarily the European Union, a high-official of Pran group said.

It will be located in Habiganj district aiming to produce a variety of bicycles.

"The bicycle project involves one export oriented assembly facility dedicated to the EU markets. While another assembly facility would manufacture bicycles for the domestic market,"  Ahsan Khan Chowdhury, Deputy Managing Director, PRAN-RFL Group told Bike Europe, a leading website for bike professionals worldwide.

BDST: 1035  HRS, JAN 14, 2014
Edited by: Rubaiat Saky, Senior Newsroom Editor