Walton, which happens to be one of the largest conglomerates, is set to signal off the nation’s first lift fabricating and manufacturing plant, in a showcase of Bangladesh’s developing mechanical ability.”We are expecting to cater 50 per cent of the market share by a year by beating the importers both in terms of quality and price; We are quite happy with our own production quality,” ” according to Sohel Rana, CEO of Walton Elevator.
The plant set up at an expense of Tk 50 crore at the Walton Hi-Tech Industries (WHIL) at Chandra, Gazipur has started test creation. Consistently, according to the recent records in Bangladesh, more than of 5,000 units of lifts are required each year and the majority of them are being imported from China.
The market size is growing about 20 percent every year, which is immensely influenced by urbanization, and the market size could be estimated at Tk 1,200 crore.
Walton plans to produce lifts based on three categories, which are widely popular in Bangladesh. These three kinds are –
Walton, proudly plans to offer five-year instalment facility to their customers from the beginning, as they certain about their product.
“It’s not a joke. Five years is a quite long time and we are taking that much risk as we are very confident about our products.”
Rana expects the general lift cost will go down once the processing plant starts undeniable activity.
“Importers are making huge margins and definitely this market will be corrected when our product comes.”
As of now, a passenger lift costs Tk 20 lakh however it will be reduced by a couple of lakhs inside a year in light of Walton’s creation, he said.
Cargo lifts are significantly more costly.
In 2014, Walton stepped up to the plate and set up the plant with the view to gathering substantial innovation items.
Around 150 neighborhood and a decent number of foreign engineers are working in the plant, which has an ability to make 1,000 units every year. The organization plans to grow the limit of production according to the market reaction.
Finance Minister AHM Mustafa Kamal is expected to initiate the plant at a program today in nearness of Posts and Telecommunication Minister Mustafa Jabbar and State Minister for Information and Communication Technology Zunaid Ahmed Palak.
Rana likewise looked for approach changes from the administration, with the goal that it will help the local lift assembling industry develops.
As of now, local makers need to pay 10 percent customs obligation for hardware equipment and raw materials expected to fabricate lifts, though completed items convey just 1 percent obligation.
“This needs to be revised to help the industry to grow,” Rana said.
In accordance with the quickly developing economy, lift utilization in Bangladesh is expanding consistently.
“New players will join the race to manufacture lifts locally in the near future.”
With the plant, Walton included another credit to its already existing large conglomerate. It produces coolers, coolers, climate control systems, LED/LCD TVs, bikes, advanced cells and home machines, and many more. Walton is the greatest exporter in the field of gadgets, with nearness in excess of 20 nations, as indicated by the organization’s site.
By Masum Mahmud,
Sub-editor, at Prottashito Alo.