Packaging films producer Thai Film Industries (TFI) is considering setting up a packing film factory in Bangladesh worth $40m.
Based in Thailand, TFI specialises in producing BOPP, CPP films, polyethylene terephthalate and metalised films that is used in printing, lamination and adhesive tapes.
The company made a proposal for the construction of the factory to the Bangladesh Export Processing Zones Authority (BEPZA) and the Board of Investment (BoI), reported The Financial Express (FE).
Reportedly, a team of three from the company visited the country's capital Dhaka last month.
If the proposal is accepted, this will be a first-of-its-kind factory in Bangladesh that currently meets its demands by importing from Malaysia, India, China, Thailand and Korea.
Speaking about the proposal, the BoI executive chairman Dr S A Samad said to the FE: "We have received a proposal from the Thai company and are working on it. Some of the facilities demanded in the proposal do not seem to be acceptable to us. So we are in negotiation with the company on those issues.
"We are eagerly trying to attract foreign direct investment (FDI) in the country. So relating to the Thai proposal, we will try our best to consider their demands so that the company can invest in the country. Besides, we are also trying to attract FDI from non-traditional sectors which will help reshape our identity in the international arena."
The packaging film that will be produced at the factory will primarily be used by export-oriented factories for packaging exportable goods. Currently, the country's demand for such packing items is around 45,000 tonnes a year.
The current proposal says that the first phase of the factory will be able to meet 50% of the local demand which will increase to 80% after the second phase.
The company is currently engaged in discussions with the country for the allotment of a plot for the factory, FE said.
Image: Thai Film Industries specializes in producing BOPP, CPP films, polyethylene terephthalate and metalised films that is used in printing, lamination and adhesive tapes. Photo: courtesy of Mister GC / freedigitalphotos.net.
