Meghna Innova Rubber Company Ltd, a concern of Meghna Group, is producing truck, bus, and agricultural tyres at its expanded facility in Tangail, which is expected to fill the gap left by a recently closed local tyre manufacturer, stated in a report.
The company’s goal is to make Bangladesh self-sufficient in heavy-duty tyre manufacturing, aiming to eliminate the need for imports in this sector entirely. The new plant, which has been operational since last year, features advanced technology from Germany, Italy, and China. With significant investment and new job creation, the company is focused on reducing import dependence and conserving foreign currency by producing bias tyres for heavy vehicles.
Industry insiders estimate the heavy-vehicle tyre market to be worth Tk 3,000 crore, with over 90 percent of the demand met by imports. To support domestic manufacturers and encourage local production, the sector needs policy support to address vulnerabilities posed by duty and VAT advantages on imported products. Local production is seen as having significant economic benefits, as domestically manufactured tyres are more affordable for consumers and the initiative helps strengthen local industry while creating jobs and saving foreign exchange.
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