City Group Chairman Fazlur Rahman died at United Hospital in the capital early Monday. He was 77.
The eminent industrialist, who had been suffering from respiratory disease for a long time, breathed his last at around 4 am, family members told the media.
He is survived by his wife, a son, three daughters and a host of relatives, friends and well-wishers.
Prime Minister Sheikh Hasina has expressed profound shock and sorrows at the death of Fazlur Rahman.
In a condolence message, Sheikh Hasina has prayed for the salvation of the departed soul and expressed deep sympathy to the bereaved family members.
His namaz-e-janaza was held at Dhupkhola field in Gendaria after Asr prayers on Monday. Later, he was buried at the Jurain graveyard.
According to family members, he worked at his office until Sunday evening. He was taken to the hospital immediately after fell sick at night.
Rahman started business with Tk 42
On February 6, 1972, industrialist Fazlur Rahman embarked on a journey by establishing City Group through the production of mustard oil.
After the success of the initial venture, City Group ventured into various new fields. Primarily focused on production, industry, and trading, the conglomerate became a major investment player in the industrial sector.
In the 1990s, City Group expanded its portfolio with several more projects and initiatives.
However, the path for City Group was not always smooth. Fazlur Rahman faced challenges due to the lack of a family business background, formal education, or prior experience.
Bringing bread and butter of a family of 11 siblings, he started his business at the age of 10-11 in 1958 with a capital of only Tk 42, opening a small betel leaf shop.
His first business was a betel leaf shop that resembled a small grocery store. Today, that small venture has evolved into the present-day City Group.
Over the past fifty years, the conglomerate, managing more than 40 companies, has grown significantly. Under the umbrella of this industrial conglomerate, currently employing around 25,000 workers, various businesses thrive.
In 1972, the journey of City Group began with the production of nine pairs of oil expellers for mustard oil in Gendaria.
Now City Group holds two economic zones. Permission has been granted for the establishment of a high-tech park. Within its 78-acre premises, the City Economic Zone houses a daily production capacity of five thousand tonnes of soybean seed crushing units, making it one of the world's largest flour mills with state-of-the-art technology.
Without human touch, the facility produces five thousand tonnes of flour, semolina, and suji daily. In the City Economic Zone, the country's largest auto rice mill, with a daily production capacity of 1,700 tonnes, is also situated.
Currently, it owns more than 40 establishments, including the country's six largest tea gardens.
The annual turnover is nearly Tk 25,000 crore. Alongside the domestic market, various products, including flour and oil, are exported to the United States, China, Japan, Malaysia, India, Cambodia, and Nepal.
