As per Marico’s investment proposal, the new production unit will create 2,500 opportunities for direct employment in Bangladesh.
The company will sign a land lease agreement with the Bangladesh Economic Zones Authority (Beza) over a 10-acre plot for the project.
Marico began its journey in Bangladesh around 20 years ago with 36 brands across 10 categories under the Parachute Advanced, Saffola, Nihar, Parachute Just for Baby, Parachute Skinpure, Parachute Naturale, Livon and Studio X franchises. They cater to the domestic market as well as international markets of India, Nepal and the Middle East.
The company performed well amid the pandemic in the previous fiscal year as its revenue grew by 15.4 percent and profitability increased 17.5 percent.
