Singer Bangladesh, a top home appliances manufacturer and retailer, has launched production at its new factory, marking the first manufacturing operation within the Bangladesh Special Economic Zone (BSEZ) in Araihazar, Narayanganj.

Backed by a $78 million investment from Turkish multinational Arcelik, the factory aims to decrease reliance on imports by producing over 90% of components locally.

The new factory is expected to employ around 5,000 people and can produce up to 1 million refrigerators annually.

Singer Bangladesh intends to phase out its existing manufacturing unit in Savar, which lacks modern machinery, in favor of the new facility, equipped with state-of-the-art technology on a 35-acre site. Utility services including power, water, and gas are readily available at the BSEZ, facilitating manufacturing operations.

Singer Bangladesh, renowned for brands like Singer and Beko, boasts 463 retail stores and over 1,000 dealer shops nationwide. Arcelik holds a majority stake of 57% in Singer Bangladesh, with the company’s stock trading at Tk 145.60, reflecting a market capitalization of Tk 14.65 billion and a net profit of Tk 520 million in 2023.