PRAN-RFL Group is investing Tk 700 crore to set up factories for the manufacture of opal glassware and polystyrene sheets.

Opal glassware refers to decorative opalescent glass articles made by the addition of fluorides and often designed for everyday use such as bowls, drinking containers and ornaments.

Annual local sales amount to approximately Tk 1,200 crores and is growing by 10 percent, according to market insiders.

Currently, there is only one manufacturer in the country, Nasir Opal Glass & Crockeries Industries Limited. Demand is mostly met through imports largely from China.

Polystyrene is a transparent thermoplastic which can be melted into a liquid at high temperatures and re-hardened into different forms, via plastic injection molding, such as polystyrene sheets.

It can be used in a myriad of applications such as food and beverage packaging, medical supplies and appliances, panels and casings.

Annual local sales amount to around Tk 150 crore and is growing by over 10 percent, according to market insiders.

Presently, it is being manufactured by Bangladesh Insulation Products, Shimu EPS Industries Ltd and Diamond Insulation Ltd for local sales whereas Walton and Samsung produce it for their own use.

Three production lines for opal glassware and one for polystyrene sheets have already been set up at Habiganj Industrial Park-II, informed Kamruzzaman Kamal, marketing director of PRAN-RFL Group.

"We will start trial production of opal glassware in January 2024," said Kamal.

Regarding the source of the investment, which is being used for the purchase of land, machinery, utility connections and others, he said, adding that some 35 percent was equity and the rest bank financing.

The group also plans to export opal glassware, he said, adding that the group already has a polystyrene sheet manufacturing plant in Cumilla.

Habiganj Industrial Park-II is being built on 40 acres of land in Shaistaganj upazila of Habiganj, some 150 kilometres northwest of the capital.

To be formally inaugurated in March 2024, the industrial park will create job opportunities for around 1,000 people and enhance the overall socio-economic condition of the area, the marketing director said.

The group's Habiganj Industrial Park-I is also situated in Shaistaganj upazila on about 300 acres of land. Production there started in 2013 and around 25,000 are now working there, he said.

Introduction and diversification of products and an increase in demand in domestic and export markets are among a number of factors which are prompting the group to increase production facilities, he said.

The group has facilities around the country manufacturing processed agricultural food products, plastics, electronics, light engineering products, toiletries, furniture, non-leather items and medical appliances.

"One of the objectives of PRAN-RFL Group is to create employment for the masses in rural areas. The availability of energy is also highly important," said Kamal.