Mahmudur Rahman, energy adviser and Board of Investment (BoI) executive chairman, and Stephen H. Goodman, chairman, president and CEO of Singer Corporation, jointly inaugurated the plant on 2.8 acres of land.

Having modern machinery and sophisticated quality control laboratory, the Tk 20 crore plant, which employs around 200 people, will produce annually 4.8 lakh coils of cable for domestic use. The length of a coil is 91.94 metres.

The Singer Bangladesh has considered the cable plant as a potential investment as the Rural Electrification Board is going to extend its coverage.

Singer Bangladesh accounts that the housing sector is growing and over 10 percent overhead cost of the sector would be spent on cables.

Mahmudur Rahman lauded the move of Singer saying that the multinational company is considering the country's investment atmosphere safe and conducive and they went for expansion.

He said the country saw a tremendous growth in the foreign direct investment in the last fiscal and hoped that this growth would continue in the coming years.

Among others, Gavin J. Walker, Singer Asia president & CEO, Mahbub Jamil, Singer Bangladesh chairman and managing director, also attended the inaugural ceremony.