Fourteen prominent domestic companies and industrial conglomerates have expressed keen interest in investing in closed and loss-making state-owned factories, submitting 86 investment proposals to the government, according to official sources.
The Bangladesh Investment Development Authority (BIDA) is currently scrutinising the proposals, its Public Relations Officer Md Abu Hanif said on Thursday.
Industries Secretary Abdun Naser Khan said the government has received investment proposals from various business groups and is now working to finalise the framework for handing over closed state-owned units to private investors.
“We have received investment proposals from various business houses. Following the passage of the Invest Bangladesh Act 2026 last month, the models for handing over closed state units—whether through long-term lease, profit-sharing, or other mechanisms—will be finalised once the framing of guidelines under the new law is completed,” he said.
He expressed optimism that the process would be finalised shortly.
The proposed investments span agriculture and agro-processing, electric vehicles and motorcycle manufacturing, data centres and digital infrastructure, food and water processing, light engineering and renewable energy.
The government began efforts in June to restart closed state-owned manufacturing units, with BIDA initially shortlisting 44 state-owned enterprises for potential handover to the private sector.
The list includes 13 units under the Bangladesh Sugar and Food Industries Corporation (BSFIC), 12 under the Bangladesh Textile Mills Corporation (BTMC), 10 under the Bangladesh Chemical Industries Corporation (BCIC), five under the Bangladesh Jute Mills Corporation (BJMC) and four under the Bangladesh Steel and Engineering Corporation (BSEC).
After BIDA invited expressions of interest (EOIs), four standalone companies and 10 major industrial groups initially submitted 80 investment proposals. The number has since increased to 86.
Both Paragon Group and Kazi Farms Group have submitted proposals to invest in Thakurgaon Sugar Mills.
Nabil Group, BRAC Seed & Agro Enterprise and Milk Vita have also expressed interest in taking over Setabganj Sugar Mills.
The revival initiative gained momentum following a high-level meeting at the Prime Minister’s Office on July 4, when Prime Minister Tarique Rahman directed the authorities to expedite the reopening of non-profitable state-owned factories through domestic and foreign investment.
On July 8, Industries and Commerce Minister Khandakar Abdul Muktadir chaired a meeting at the Ministry of Industries, where participating companies presented their views. The meeting led to a decision to form a committee to finalise an effective investment framework.
PRAN-RFL Group has submitted the highest number of proposals, with 35 covering 16 state-owned factories.
Its plans include individual and joint investments in automobile assembly, eco-tourism, agro-industry, construction materials, ready-mix concrete, paper mills, solar power, footwear, furniture, poultry and dairy farming.
PRAN-RFL has already revived Rajshahi Textile Mill and Rajshahi Jute Mill under public-private partnerships (PPPs), employing around 3,500 people. It also secured leases for Star Jute Mills in Dighalia, Khulna, and National Jute Mills in Sirajganj on August 11.
Akij Resource Group has submitted 12 proposals through two subsidiaries. Akij Agro & Livestock submitted three proposals covering agriculture, solar power and cold storage at three sugar mills, while Akij Electric & Electronics submitted nine proposals in light engineering, furniture, rubber, electric vehicles, power and IT.
TK Group has submitted 10 proposals focusing on automobile parts manufacturing, electric vehicle assembly, leather footwear and solar-panel glass production under long-term leases.
BRAC Seed & Agro Enterprise has submitted nine proposals seeking a long-term lease of Setabganj Sugar Mills to establish research and development facilities, fruit and vegetable processing, organic fertiliser production, seed-potato multiplication, cold storage and solar power generation.
Kazi Farms Group has submitted four proposals targeting Khulna Newsprint Mills, Dhaka Leather, Pragoti Industries, Thakurgaon Sugar Mills and Panchagarh Sugar Mills for agro-processing, corn starch, food processing and beverage production.
Transcom Group has submitted three proposals for new investments across closed units under four state agencies.
Nabil Group has submitted two proposals targeting Rajshahi Sugar Mills and Setabganj Sugar Mills for sugar beet cultivation, integrated farming and agro-processing.
Paragon Group has proposed agro-processing, animal-feed manufacturing, solar power plants and rice and maize cultivation on sugar mill lands.
Square Food & Beverage has expressed interest in agro-processing and establishing small-scale cold-storage facilities.
Milk Vita has proposed installing a modern refinery with a daily capacity of 30,000 litres at Setabganj Sugar Mills.
Gram Unnayan Karma (GUK) has submitted three proposals targeting electric vehicles, agricultural machinery and sericulture.
Active Fine Chemicals has submitted a joint-venture proposal to produce active pharmaceutical ingredients (APIs) and biopharmaceuticals.
Excellent Ceramics Group has submitted three proposals focusing on EV assembly, battery systems, engineering, tiles, sanitaryware and tableware manufacturing.
Bengal Meat Processing Industry has submitted proposals targeting the agro-food sector.
Nahian Rahman, an Executive Member of BIDA, said the government moved quickly to formulate a framework following the Prime Minister’s July 4 meeting.
“Following the Prime Minister’s meeting on July 4, we formulated a draft policy within three weeks to transfer closed state units to private management,” he said.
“We held consultations with private entrepreneurs on July 28, and we expect the policy framework—encompassing long-term leases, profit-sharing, or other models—to be passed within a month,” he added.