Pran to inaugurate second bicycle factory on Dec 15

Pran-RFL Group, one of the largest business conglomerates of the country, is set to inaugurate its second bicycle manufacturing factory in Rangpur aiming to grab a large portion of the Tk 1,800 crore domestic bicycle market.

The factory, established in Gangachara upazila of Rangpur district, has already started production.

Commerce Minister Tipu Munshi has been requested to inaugurate the factory on December 15.

The bicycle market is expanding in Bangladesh due to rising health consciousness among the citizens and a quest for convenience across the country, industry insiders said.

Chairman and CEO of Pran-RFL Group Ahasan Khan Chowdhury said the new plant has an annual production capacity of six lakh pieces of bicycles.

With the new plant, Pran-RFL’s total annual bicycle production capacity has become 11 lakh units, he said.

RFL started exporting bikes in 2015 with its maiden shipment sailing to England. It now exports to 10 countries, including England, the Netherlands, Denmark, Germany, Austria and Belgium.

The company is also supplying local bicycles to international bicycle brands such as Sports Direct, Toys R Us, Tandem, Germany School, England’s Argos and Denmark’s brand Asian Nordica.

Besides, Pran-RFL’s ‘Durunta’ bicycle has gained popularity in the local market.

Around 1,000 people are employed in the new factory, which cost Pran-RFL around Tk 60 crore to build. It is also generating a new skilled workforce for the international market.

The company’s first bicycle factory was established in 2014 at the Habiganj Industrial Park in Shaistaganj upazila of Habiganj, mainly for export purposes.

According to industry insiders, the annual demand for bicycles in Bangladesh is 20 lakh pieces but a majority of this demand is met through imports as only two local firms are manufacturing bikes.

These two firms supply 40 per cent of the local demand for bicycles. Of the country’s total bicycle exports worth $130.8 million in the fiscal year 2020-21, RFL fetched $18.8 million. The company exported $12 million worth of bicycles in the previous fiscal year.