UAE company to invest $10m to produce fiber reinforced polymer products

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26th March 2026

Published : Tuesday, 24 February, 2026 at 12:00 AM Count : 310

A UAE company will invest $10m in Bangladesh to manufacture fiber reinforced polymer (FRP) composite products, steel frame and accessories in at the BEPZA Economic Zone.

Integrated Composite Industries Ltd, a UAE-Bangladesh joint venture company, has signed a land lease agreement with the Bangladesh Export Processing Zones Authority (BEPZA) at the BEPZA Complex in Dhaka on Sunday in this connection, says a press release.

Executive Director (Investment Promotion) of BEPZA, signed the agreement on behalf of BEPZA, while Kamrul Hasan Chowdhury, Chairman of Integrated Composite Industries Ltd., signed on behalf of the investing company. BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony.

The company will manufacture modern bathtubs, jacuzzi, and panel tanks using FRP. To support this production, it will also develop various FRP composite products and accessories, including molds and patterns.

The company plans to produce 6,174 metric tons of these products annually to meet the significant demand in the shipbuilding and cruise industries, with the majority of the output primarily destined for export to Dubai.

This investment marks a significant step toward industrial diversification in Bangladesh, moving beyond traditional sectors into the specialized field of composite materials. With a proposed investment of $10 million, the company is expected to create employment opportunities for 906 Bangladeshi nationals.

Welcoming the investor, the Executive Chairman of BEPZA reaffirmed BEPZA’s commitment to providing seamless facilitation and a supportive, investor-friendly environment to ensure the success of industrial ventures. He thanked Integrated Composite Industries Ltd. for coming forward with a diversified manufacturing initiative in the context of Bangladesh and expressed hope that such non-traditional, value-added products would contribute significantly to diversifying the country’s export basket.

The ceremony was attended by Abdullah Al Mamun, Member (Engineering); A N M Foyzul Haque, Member (Finance); Samir Biswas, Executive Director (Administration); ASM Anwar Parvez, Executive Director (Public Relations); along with senior officials of BEPZA and representatives of Integrated Composite Industries.

https://www.observerbd.com/news/567319

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UAE company to invest $10m to produce fiber reinforced polymer products

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