Fair Technology to set up Hyundai car manufacturing plant in Gazipur

Fair Technology Limited, the country's lone distributor of renowned South Korean car manufacturer Hyundai Motor Company, is going to set up a Hyundai car manufacturing plant in Bangladesh. 

Fair Technology Ltd, the automotive vertical of Fair Group, has signed an agreement with the Bangladesh Hi-Tech Park Authority for allotment of land in this regard, said a press release.

Fair Group has been manufacturing Samsung smartphones and consumer electronics products in Bangladesh. It also operates its retail, enterprise, after-sales service, and various franchise-based businesses across the country.

The signing ceremony was led by State Minister for Information and Communication Technology (ICT) Zunaid Ahmed Palak, where Bangladesh Hi-Tech Park Authority Managing Director (Secretary) Hosne Ara Begum and Managing Director of Fair Technology Ruhul Alam Al Mahbub signed the agreement on behalf of their respective organisations.

Ambassador of the Republic of Korea Lee Jang-keun, Senior Secretary of ICT Ministry NM Zeaul Alam, Director of Fair Technology Mutassim Daiaan, Adviser of Fair Group Maj Gen Hamid R Chowdhury, Chief Marketing Officer Mesbah Uddin and other senior government and Fair Group officials were present on the occasion. 

The Hyundai car manufacturing plant will be set up on six acres of land at Kaliakair in Gazipur with investment by Fair Technology and technical assistance from Hyundai Motor Company.

Initially, Hyundai plans to produce the most popular sedans, SUVs, and MPVs of recent models.

The plant is being set up in line with the policy of the Government of Bangladesh, which will help increase localisation, create employment, and increase the number of skilled workers in the country.

On this occasion, State Minister Zunaid Ahmed Palak said, "We are very happy that the world-famous Hyundai car factory is being set up in Bangladesh through Fair Technology which is one of the milestones. When world-famous cars like Hyundai start manufacturing in Bangladesh, Bangladesh's prestige in the world will increase a lot and I also believe that this factory will make a significant contribution to employment and the economy of Bangladesh."

Bangladesh Hi-Tech Park Authority MD Hosne Ara Begum said, "We are very happy to be able to make this agreement with Fair Technology today because when world-famous car like Hyundai is built in a high-tech park, it will encourage foreign investors and Bangladesh will go further in the communication and technology industry."

Fair Technology Ltd MD Ruhul Alam Al Mahbub said, "To execute the prime minister's dream of Digital Bangladesh, Fair Technology will make Hyundai cars in Bangladesh. We are pleased to announce the Hyundai Car Manufacturing Factory in association with the Bangladesh Hi-Tech Park Authority. Using Hyundai's technology and expertise, we will ensure that Hyundai's world-class cars can be enjoyed by Bangladeshi customers at affordable prices."