To meet the growing demand for bicycles locally and internationally, RFL Group opened another factory at Gangachara in Rangpur on Thursday.
Commerce Minister Tipu Munshi inaugurated the bicycle factory Thursday.
Apart from manufacturing bicycles, the factory will manufacture frames, forks, tires, tubes, and some other bicycle components. The factory has received an investment of around Tk60 crore and will employ around 1,000 people.
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RFL has been manufacturing and marketing bicycles since 2014. The first bicycle factory of RFL is located at Shayestaganj in Habiganj. The factory now has an annual production capacity of eight lakh pieces of bicycles.
The company said its bicycles are now exported to 15 countries, including England, the Netherlands, Denmark, Germany, Austria and Belgium.
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Ahsan Khan Chowdhury, chairman and CEO of Pran-RFL Group, said: "All the bicycles for the local market will be manufactured from this factory. The factory's annual production capacity will be six lakh pieces once it is fully operational."