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Bashundhara Group

Bashundhara Group (Bengali: বসুন্ধরা গ্রুপ) is a Bangladeshi conglomerate based in Dhaka.

It was incorporated in 1987[1] as a real estate company under the name East West Property Development Ltd (EWPD). It presently owns more than 50 major concerns throughout Bangladesh. The company's import-export turnover was $1.12 billion or BDT 111.38 billion in the 2022-23 fiscal year.[2] In the 2018 fiscal year, the company's real estate holdings amounted to BDT 50,000 crores, or $4.6 billion.[3]

History

Bashundhara Group, founded by Ahmed Akbar Sobhan, began in 1987 as a real estate venture. After its first project, Bashundhara invested in new fields, including manufacturing, industry and trading. More enterprises were established in the early 1990s; these included cement, paper, pulp, tissue paper and steel production, as well as LP Gas bottling and distribution. Bashundhara received permission from the Bangladesh Economic Zones Authority to set up two specialized economic zones in Keraniganj, Dhaka, Bangladesh.[4]

In 2013, Bashundhara invested $181 million in the food sector, producing flour, wheat, red meat, etc.[5]

In 2020, Bashundhara invested $143.7 million to build the largest bitumen plant in Bangladesh.[6] In the same year, Bashundhara became involved in the coal trading market, with a notable example of supply 8 million tonnes of coal to the Rampal coal-fired power plant.[7]

In 2021, Bashundhara invested $909 million to create an oil refinery on 220 acres of land in the Sitakunda upazila of the country's port city of Chattogram.[8]

In 2022, Bashundhara invested $546 million into creating Bangladesh's first gold refinery on 470 acres of land near the Dhaka-Purbachal highway [9] In the same year, Bashundhara Multi-Steel Industries invested $395 million for phase-1 of a steel manufacturing plant at Bashundhara Industrial Economic Zone at Bangabandhu Shilpa Nagar in Chattogram. The phase-2 investment of $727 million will be initiated in 2025, bringing the company's annual steel production to 3 million tonnes.[10] Later, in 2022, ABG Limited, a concern of Bashundhara group signed an agreement with the Chittagong Stock Exchange to acquire 25% of its shares for BDT 240 crore in line with the country's demutualisation act.[11]

In 2023, Bashundhara Telecommunications Limited submitted a proposal to the Post and Telecommunications division of the country to become a strategic investor of the struggling state owned carrier TeleTalk. The proposal outlines a plan to develop the network, enhance customer service and upgrade the systems of TeleTalk, which has made losses in all but the first two years of its 19-year-existence.[12]

Enterprises

Bashundhara Group now operates over 50 concerns:

  • East West Property Development (Pvt) Limited[13]
  • Meghna Cement Mills Limited[14]
  • Bashundhara Shipping Lines Limited
  • Bashundhara Shipping Limited[15]
  • Bashundhara Logistics Limited
  • Bashundhara Horticulture Limited
  • Bashundhara Chemical Industries Limited
  • Bashundhara Trading Company Limited
  • Bashundhara International Trade Center Limited
  • Bashundhara Multi Trading Limited
  • Bashundhara General Trading LLC Dubai
  • Bashundhara Employment Services
  • Bashundhara Electricity Limited
  • Bashundhara Infrastructure Development Limited
  • Bashundhara Import Export Limited
  • Bashundhara Agricultural Products Limited
  • Bashundhara Multi Agricultural Company Limited
  • Bashundhara Multi Paper Industries Limited
  • Bashundhara Amusement Park Limited
  • Bashundhara Oil and Gas Company Limited
  • Bashundhara Multipurpose Port Limited
  • Bashundhara Textile Mills Limited
  • Bashundhara Airways Limited
  • Bashundhara Multi Food Products Limited
  • Bashundhara Technologies Limited
  • Bashundhara Paper Mills Limited[16]
  • Bashundhara Fine Paper Limited[17]
  • Bashundhara Pulp & Board Mills Limited[17]
  • Bashundhara LP Gas Limited[18]
  • Bashundhara City Development Limited[19]
  • Bashundhara Steel Complex Limited
  • Bashundhara Industrial Complex Limited[20]
  • Bashundhara Steel And Engineering Limited
  • Bashundhara Multi Steel Industries[21]
  • Bashundhara Foundation[22]
  • Bashundhara Convention Center[23]
  • Bashundhara Dredging Company Limited[24]
  • Bashundhara Technical Institute[25]
  • Bashundhara Telecommunications Network Limited[26]
  • Bashundhara Food and Beverage Industries Limited[27]
  • Sundarban Industrial Complex Limited[28]
  • Bashundhara Cement Industries Limited[29]
  • Bashundra Toiletries Limited[30]
  • Bashundhara Pre-Fabricated Building Manufacturing Industries[21]
  • Dhaka Multi Agricultural Complex Limited
  • Sea Real Estate Developers Limited
  • East West Media Group[31]
  • Bashundhara Kings[32]
  • Rangpur Riders[33]
  • Kebab Turki Baba Rafi (Bangladesh)[34]
  • Toggi Services Limited[35]
  • Bir Cement Limited[36]

Bashundhara City

Main article: Bashundhara City

Bashundhara City (Bengali: বসুন্ধরা সিটি) is a shopping mall in Dhaka. Construction began in 1998; Mohammad Foyes Ullah and Mustapha Khalid Palash of Vistara designed the building. Opened to the public on 6 August 2004,[37] the mall is located at Panthapath, near Karwan Bazar, in Dhaka city and cost over $100 million to complete. Bashundhara City is 21 stories tall, of which 8 are used for the mall, which houses fashion houses and jewelry shops, as well as around 100 food outlets.[38]

The mall has experienced two fires. The first fire occurred on March 13, 2009, resulting in the deaths of 7 people and injuries to 20 others. The second incident, which took place in 2016, did not result in any casualties.[39]

Bashundhara Residential Area

Main article: Bashundhara Residential Area

Media ventures

In 2009, the group launched East West Media Group Ltd., which now operates several major media outlets in Bangladesh. These include two television channels, one FM radio station, an online newspaper, and three print media publications.

The Bengali-language national daily newspapers owned by East West Media Group are Kaler Kantho and Bangladesh Pratidin. The group also publishes the English-language newspaper Daily Sun. Additionally, the online news portal banglanews24.com provides content in both Bengali and English.

The television channels owned by the group include News24 and T-Sports, while Radio Capital is its FM radio station.

See also

References

  1. ^ "Bashundhara Official Profile". Archived from the original on 17 March 2012. Retrieved 4 March 2012.
  2. ^ Milad, Masud (18 September 2023). "8 local business conglomerates enter billion-dollar club". Prothom Alo. Retrieved 28 October 2023.
  3. ^ Alo, Jebun Nesa (17 March 2018). "All set for mega oil refinery". The Daily Star (Bangladesh). Retrieved 28 October 2023.
  4. ^ "Bashundhara to build two economic zones". The Daily Star (Bangladesh). 27 July 2016. Retrieved 11 August 2016.
  5. ^ Islam, A. K. M. zahidul. "Bashundhara Invests Tk 2000cr in Food Sector for Quality atta, flour, suji to hit market soon". Retrieved 14 December 2023.
  6. ^ "Bashundhara builds Bangladesh's biggest bitumen plant". The Daily Star (Bangladesh). 23 February 2020. Retrieved 2 July 2020.
  7. ^ "Bashundhara Group wins bid to supply 8m MT of coal to Rampal power plant". The Business Standard. 7 February 2023. Retrieved 14 December 2023.
  8. ^ "Bashundhara's mega oil refinery will reduce import, cost of gas". Dhaka Tribune. 28 July 2021.
  9. ^ "Involve private banks in Bashundhara Gold Refinery project: BB instructs banks". The Business Standard. February 10, 2022.
  10. ^ "Bashundhara goes big to utilise first-mover advantage". The Business Standard. 8 November 2022. Retrieved 14 December 2023.
  11. ^ "Bashundhara's concern signs deal with CSE to buy 25pc stakes". New Age (Bangladesh). Retrieved 14 December 2023.
  12. ^ Hasan, Mahmudul (28 September 2023). "Bashundhara seeks to invest in Teletalk". The Daily Star (Bangladesh). Retrieved 14 December 2023.
  13. ^ "Bashundhara chairman sued for 'fraud'". The Daily Star (Bangladesh). 18 December 2011. Retrieved 11 August 2016.
  14. ^ "Chinese national among two dead after 'inhaling poisonous gas' in abandoned barge in Mongla". bdnews24.com. 8 August 2016. Retrieved 11 August 2016.
  15. ^ Sun, Daily (February 28, 2017). "Shipping business facing worst time". Daily Sun (Bangladesh).
  16. ^ "DoE fines three factories of Bashundhara, Ha-Meem groups". bdnews24.com. 24 August 2014. Retrieved 11 August 2016.
  17. ^ a b MarketScreener. "Ahmed Akbar Sobhan - Biography". Retrieved 15 November 2019.
  18. ^ "LPG price hike: Traders take advantage of Ramadan". Dhaka Tribune. Archived from the original on 29 August 2016. Retrieved 11 August 2016.
  19. ^ "Scared shoppers send sales plummeting". Prothom Alo. Archived from the original on 7 August 2016. Retrieved 11 August 2016.
  20. ^ "Akbar, sons, wife get 8 years for tax evasion". The Daily Star (Bangladesh). 30 September 2007. Retrieved 11 August 2016.
  21. ^ a b "Bashundhara Group to fork out Tk 4,350cr to set up three factories at BSMSN". The Daily Star (Bangladesh). 18 August 2020.
  22. ^ "Bashundhara Foundation". Retrieved 11 August 2016.
  23. ^ "Ex-NSU student 'missing' from Ctg, rescued in Dhaka". The Daily Star (Bangladesh). 4 August 2016. Retrieved 11 August 2016.
  24. ^ "Bashundhara gets economic zone licences". The Daily Star (Bangladesh). 28 July 2016. Retrieved 11 August 2016.
  25. ^ "Home - Bashundhara Technical Institute". Bashundhara Technical Institute. Retrieved 11 August 2016.
  26. ^ "Why Bashundhara Group chief's son acquitted of Sabbir murder charge: HC". bdnews24.com. 11 April 2016. Retrieved 11 August 2016.
  27. ^ "Big firms to go for rice milling". The Daily Star (Bangladesh). 21 January 2015. Retrieved 11 August 2016.
  28. ^ "Sundarban Industrial Complex Ltd". Retrieved 11 August 2016.
  29. ^ "SLAG base cement – new horizon for sustainable & durable construction". The Daily Star (Bangladesh). Retrieved 11 August 2016.
  30. ^ "Bashundhara Toiletries unveils its logo". Daily Sun (Bangladesh). September 2023.
  31. ^ "Bashundhara now has over 20 major concerns". Archived from the original on 9 January 2015. Retrieved 1 January 2015.
  32. ^ "Bashundhara Kings Ultras: The first fan club of its kind in Bangladesh". The Business Standard. December 18, 2023.
  33. ^ Sun, Daily (May 28, 2017). "Rangpur Riders begin new journey with Bashundhara Group". Daily Sun (Bangladesh).
  34. ^ Sun, Daily (September 28, 2017). "Baba Rafi opens outlet at Banasree". Daily Sun (Bangladesh).
  35. ^ "Toggi Services Limited". Toggi Services Limited. Retrieved 20 August 2022.
  36. ^ "Bashundhara Group launches 'Bir Cement'". Daily Sun (Bangladesh). November 2021. Retrieved 11 December 2021.
  37. ^ "Bashundhara mall to open to public tomorrow". The Daily Star (Bangladesh). 15 March 2009. Archived from the original on 16 March 2009.
  38. ^ "Shopping at Bashundhara City".
  39. ^ "Fire again at Bashundhara City mall". The Daily Star (Bangladesh). 21 August 2016. Retrieved 30 August 2023.

Sources