Nitol Niloy Group
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Formation | 1980 |
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Headquarters | Dhaka, Bangladesh |
Region served | Bangladesh |
Official language | Bengali |
Revenue | ![]() |
Staff | 3,170 |
Website | www |
Nitol Niloy Group (Bengali: নিটল নিলয় গ্রুপ) is a Bangladeshi diversified conglomerate based in Dhaka. Its primary business is the import and distribution of Tata Motors vehicles in Bangladesh.[1] Abdul Matlub Ahmad is the chairperson of Nitol Niloy Group.[2] Selima Ahmad mp is the Vice-Chairperson of Nitol Niloy Group.[3]
History
[edit]Nitol Niloy Group was established in January 1980 as Nitol Motors Limited, an importer of vehicles.[4]
Nitol Motors Limited became the distributor of Tata Motors in Bangladesh in 1988.[5]
In 1991, Nitol started assembling Trucks and Busses for Tata in Bangladesh.[6]
Niloy Cement Clinkerization started operations in September 2007.[7] It was the first cement clinkerization plant in Bangladesh.
The group has an annual turnover of 5 billion taka in 2010.[8]
Nitol-Niloy Group led a delegation of Bangladeshi companies to Uganda in May 2011.[9] It announced plans to invest US$12.5 million to develop rice cultivation in Uganda.[9] It signed an agreement with Amrit Group to develop a poultry industry in Bangladesh.[10] It opened a driving school in Kishoreganj District called Nitol-Tata Driving Training Institute.[11]
Nitol Niloy Group controlled FAS Finance and Investment.[12] It pulled out its investment from FAS Finance and Investment and the company was taken over by PK Halder who embezzled 13 billion taka funds from the financial institute.[12]
Nitol Niloy Group signed an agreement with Hero MotoCorp to invest US$40 million to establish a motorcycle plant on 20 April 2014.[13]
In 2016, Nitol Niloy Group requested permission from Bangladesh Bank to invest US$7 million in Gambia but were denied permission.[14][15] Later Finance Minister A. H. M. Mostafa Kamal, who is in favor of foreign investments by Bangladeshi companies, requested them to submit a detailed investment plan to the central bank which they failed to do.[14]
Nitol Niloy Group announced plans to assemble Tata Pickups under Nita Company Limited, a joint venture with Tata Motors, in September 2018.[6] Production was scheduled to begin in 2020.[6] The project suffered delays due to the COVID-19 pandemic in Bangladesh.[16] The company had also expressed an interest in assembling small cars of Tata in Bangladesh.[17] Bangladesh is the fourth largest market for Tata motors.[18] It is also delayed the launch of an electric vehicle assembled in Bangladesh due to the pandemic.[19]
Nitol Niloy Group is part of the Star Infrastructure Development Consortium which has 17 Bangladeshi conglomerates.[20] Star Infrastructure Development Consortium plans to open a US$3.5 billion steel plant in Chittagong in partnership with Kunming Iron & Steel Holding Company Limited.[20] It also has a joint venture with Hero Group to produce motorcycles in Bangladesh.[21][22]
In February 2019, Nitol Niloy Group received a license from the Bangladesh Economic Zones Authority to establish Kishoreganj Economic Zone. The group planned to invest 3 billion taka to develop the 84 acre site.[23]
Businesses
[edit]- Nitol Motors Limited
- Nitol Curtis Paper Mills Limited[24] (Tarzan Paper)[25]
- Nitol Insurance[26]
- Nitol Electronics Limited[27]
- Niloy Cement Industries Limited[28]
- Niloy Cement Clinkerisation Industries Limited[28]
- VIP-Nitol Industries Limited[29]
- Kishoreganj Economic Zone[30]
- NTrack Vehicle Tracking Service[31]
- Radio Next[32]
References
[edit]- ^ "About Nitol Niloy Group". nitolniloy.com.bd. Retrieved 2 June 2021.
- ^ "Nitol-Niloy Group opens 'export house'". The Daily Star. 2012-02-07. Retrieved 2021-06-02.
- ^ "Profile of Selima Ahmad, President, BWCCI". www.bwcci-bd.org. Retrieved 2021-06-02.
- ^ "Welcome to Nitol Motors Limited". www.nitolmotors.com. Retrieved 2021-06-02.
- ^ "Tata Motors - Leading Automobile Manufacturer in Bangladesh". Retrieved 2021-06-02.
- ^ a b c "Nitol-Niloy to start assembling Tata pickups this month". The Daily Star. 2018-09-06. Retrieved 2021-06-02.
- ^ "First-ever cement clinker plant in private sector starts operation". The Daily Star. 2007-09-10. Retrieved 2021-06-02.
- ^ "Nitol-Niloy plans tie-up with Tata on coal power plant". The Daily Star. 2010-05-16. Retrieved 2021-06-02.
- ^ a b "Bangladesh to get 60,000 hectares for farming in Uganda". The Daily Star. 2011-05-23. Retrieved 2021-06-02.
- ^ "Nitol-Niloy and Amrit sign $10m deal". The Daily Star. 2011-03-28. Retrieved 2021-06-02.
- ^ "Nitol-Tata driving school opens today". The Daily Star. 2011-11-23. Retrieved 2021-06-02.
- ^ a b Sakib, Shanaullah. "88pc loans go to PK Halder's pocket". Prothomalo. Retrieved 2021-06-02.
- ^ Staff Correspondent. "Hero MotoCorp, Nitol Niloy to set up bike plant in BD". Prothomalo. Retrieved 2021-06-02.
{{cite web}}
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has generic name (help) - ^ a b "Akij may get nod to buy Malaysian firms". The Daily Star. 2017-09-19. Retrieved 2021-06-02.
- ^ jagonews24.com. "BD govt refuses to allow Nitol-Niloy to invest in Gambia". jagonews24.com. Retrieved 2021-06-02.
{{cite web}}
: CS1 maint: numeric names: authors list (link) - ^ "Pandemic puts a damper on Tata pickup project". The Daily Star. 2020-07-20. Retrieved 2021-06-02.
- ^ "MEDIA-Bangladesh's Nitol Niloy group keen to assemble Tata Motors' small cars - Business Standard". Reuters. 2017-09-26. Retrieved 2021-06-02.
- ^ "Nitol-Niloy launches new commercial vehicle". The Daily Star. 2012-12-20. Retrieved 2021-06-02.
- ^ "Nitol's electric car arrival pushed back by pandemic". The Daily Star. 2020-11-10. Retrieved 2021-06-02.
- ^ a b "Mega steel plant in the works". The Daily Star. 2018-08-16. Retrieved 2021-06-02.
- ^ Kanungo, Soumonty (2017-08-28). "Bangladesh a perfect market for Tata Nano: Nitol Niloy's Abdul Matlub Ahmad". mint. Retrieved 2021-06-02.
- ^ "Mega motorbike show in September". The Daily Star. 2014-07-18. Retrieved 2021-06-02.
- ^ "Nitol Niloy gets final licence today". The Daily Star. 2019-02-18. Retrieved 2021-06-02.
- ^ "Nitol Paper – Nitol Curtis Paper Mills Ltd". Nitol Paper. Retrieved 2021-06-02.
- ^ "Nitol Niloy Group inaugurates Tarzan Paper". bangladeshpost.net. Retrieved 2021-06-02.
- ^ "Nitol launches online car insurance". The Daily Star. 2019-07-25. Retrieved 2021-06-02.
- ^ "World renowned brand Voltas comes to Bangladesh". The Daily Star. 2020-12-30. Retrieved 2021-06-02.
- ^ a b "Niloy Cement to buy clinker from Niloy Clinkerisation". The Daily Star. 2007-08-15. Retrieved 2021-06-02.
- ^ "The Daily Star Web Edition Vol. 5 Num 565". archive.thedailystar.net. Retrieved 2021-06-02.
- ^ "Kishoreganj EZ obtains final licence". The Financial Express. Retrieved 2021-06-02.
- ^ "NTrack locates 2 stolen trucks amid shutdown". The Daily Star. 2020-04-11. Retrieved 2021-06-02.
- ^ "রেডিও নেক্সট ৯৩.২ এফএমের টেস্ট ট্রান্সমিশন উদ্বোধন | কালের কণ্ঠ". Kalerkantho (in Bengali). Retrieved 2021-06-02.