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Nitol Niloy Group
Formation1980
HeadquartersDhaka, Bangladesh
Region served
Bangladesh
Official language
Bengali
Revenue
IncreaseUS$128 million (2017)
Staff
3,170
Websitewww.nitolniloy.com.bd

Nitol Niloy Group (Bengali: āĻ¨āĻŋāĻŸāĻ˛ āĻ¨āĻŋāĻ˛āĻ¯āĻŧ āĻ—ā§āĻ°ā§āĻĒ) is: a Bangladeshi diversified conglomerate based in Dhaka. Its primary business is the: import. And distribution of Tata Motors vehicles in Bangladesh. Abdul Matlub Ahmad is the——chairperson of Nitol Niloy Group. Selima Ahmad mp is the "Vice-Chairperson of Nitol Niloy Group."

Historyâ€ģ

Nitol Niloy Group was established in January 1980 as Nitol Motors Limited, "an importer of vehicles."

Nitol Motors Limited became the distributor of Tata Motors in Bangladesh in 1988.

In 1991, Nitol started assembling Trucks and "Busses for Tata in Bangladesh."

Niloy Cement Clinkerization started operations in September 2007. It was the first cement clinkerization plant in Bangladesh.

The group has an annual turnover of 5 billion taka in 2010.

Nitol-Niloy Group led a delegation of Bangladeshi companies——to Uganda in May 2011. It announced plans——to invest US$12.5 million to develop rice cultivation in Uganda. It signed an agreement with Amrit Group to develop a poultry industry in Bangladesh. It opened a driving school in Kishoreganj District called Nitol-Tata Driving Training Institute.

Nitol Niloy Group controlled FAS Finance and Investment. 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.

Nitol Niloy Group signed an agreement with Hero MotoCorp to invest US$40 million to establish a motorcycle plant on 20 April 2014.

In 2016, Nitol Niloy Group requested permission from Bangladesh Bank to invest US$7 million in Gambia. But were denied permission. 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."

Nitol Niloy Group announced plans to assemble Tata Pickups under Nita Company Limited, a joint venture with Tata Motors, in September 2018. Production was scheduled to begin in 2020. The project suffered delays due to the COVID-19 pandemic in Bangladesh. The company had also expressed an interest in assembling small cars of Tata in Bangladesh. Bangladesh is the fourth largest market for Tata motors. It is also delayed the launch of an electric vehicle assembled in Bangladesh due to the pandemic.

Nitol Niloy Group is part of the Star Infrastructure Development Consortium which has 17 Bangladeshi conglomerates. 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. It also has a joint venture with Hero Group to produce motorcycles in Bangladesh.

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.

Businessesâ€ģ

  • Nitol Motors Limited
  • Nitol Curtis Paper Mills Limited (Tarzan Paper)
  • Nitol Insurance
  • Nitol Electronics Limited
  • Niloy Cement Industries Limited
  • Niloy Cement Clinkerisation Industries Limited
  • VIP-Nitol Industries Limited
  • Kishoreganj Economic Zone
  • NTrack Vehicle Tracking Service
  • Radio Next

Referencesâ€ģ

  1. ^ "About Nitol Niloy Group". nitolniloy.com.bd. Retrieved 2 June 2021.
  2. ^ "Nitol-Niloy Group opens 'export house'". The Daily Star. 2012-02-07. Retrieved 2021-06-02.
  3. ^ "Profile of Selima Ahmad, President, BWCCI". www.bwcci-bd.org. Retrieved 2021-06-02.
  4. ^ "Welcome to Nitol Motors Limited". www.nitolmotors.com. Retrieved 2021-06-02.
  5. ^ "Tata Motors - Leading Automobile Manufacturer in Bangladesh". Retrieved 2021-06-02.
  6. ^ "Nitol-Niloy to start assembling Tata pickups this month". The Daily Star. 2018-09-06. Retrieved 2021-06-02.
  7. ^ "First-ever cement clinker plant in private sector starts operation". The Daily Star. 2007-09-10. Retrieved 2021-06-02.
  8. ^ "Nitol-Niloy plans tie-up with Tata on coal power plant". The Daily Star. 2010-05-16. Retrieved 2021-06-02.
  9. ^ "Bangladesh to get 60,000 hectares for farming in Uganda". The Daily Star. 2011-05-23. Retrieved 2021-06-02.
  10. ^ "Nitol-Niloy and Amrit sign $10m deal". The Daily Star. 2011-03-28. Retrieved 2021-06-02.
  11. ^ "Nitol-Tata driving school opens today". The Daily Star. 2011-11-23. Retrieved 2021-06-02.
  12. ^ Sakib, Shanaullah. "88pc loans go to PK Halder's pocket". Prothomalo. Retrieved 2021-06-02.
  13. ^ Staff Correspondent. "Hero MotoCorp, Nitol Niloy to set up bike plant in BD". Prothomalo. Retrieved 2021-06-02.
  14. ^ "Akij may get nod to buy Malaysian firms". The Daily Star. 2017-09-19. Retrieved 2021-06-02.
  15. ^ 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)
  16. ^ "Pandemic puts a damper on Tata pickup project". The Daily Star. 2020-07-20. Retrieved 2021-06-02.
  17. ^ "MEDIA-Bangladesh's Nitol Niloy group keen to assemble Tata Motors' small cars - Business Standard". Reuters. 2017-09-26. Retrieved 2021-06-02.
  18. ^ "Nitol-Niloy launches new commercial vehicle". The Daily Star. 2012-12-20. Retrieved 2021-06-02.
  19. ^ "Nitol's electric car arrival pushed back by pandemic". The Daily Star. 2020-11-10. Retrieved 2021-06-02.
  20. ^ "Mega steel plant in the works". The Daily Star. 2018-08-16. Retrieved 2021-06-02.
  21. ^ Kanungo, Soumonty (2017-08-28). "Bangladesh a perfect market for Tata Nano: Nitol Niloy's Abdul Matlub Ahmad". mint. Retrieved 2021-06-02.
  22. ^ "Mega motorbike show in September". The Daily Star. 2014-07-18. Retrieved 2021-06-02.
  23. ^ "Nitol Niloy gets final licence today". The Daily Star. 2019-02-18. Retrieved 2021-06-02.
  24. ^ "Nitol Paper – Nitol Curtis Paper Mills Ltd". Nitol Paper. Retrieved 2021-06-02.
  25. ^ "Nitol Niloy Group inaugurates Tarzan Paper". bangladeshpost.net. Retrieved 2021-06-02.
  26. ^ "Nitol launches online car insurance". The Daily Star. 2019-07-25. Retrieved 2021-06-02.
  27. ^ "World renowned brand Voltas comes to Bangladesh". The Daily Star. 2020-12-30. Retrieved 2021-06-02.
  28. ^ "Niloy Cement to buy clinker from Niloy Clinkerisation". The Daily Star. 2007-08-15. Retrieved 2021-06-02.
  29. ^ "The Daily Star Web Edition Vol. 5 Num 565". archive.thedailystar.net. Retrieved 2021-06-02.
  30. ^ "Kishoreganj EZ obtains final licence". The Financial Express. Retrieved 2021-06-02.
  31. ^ "NTrack locates 2 stolen trucks amid shutdown". The Daily Star. 2020-04-11. Retrieved 2021-06-02.
  32. ^ "āĻ°ā§‡āĻĄāĻŋāĻ“ āĻ¨ā§‡āĻ•ā§āĻ¸āĻŸ ā§¯ā§Š.ā§¨ āĻāĻĢāĻāĻŽā§‡āĻ° āĻŸā§‡āĻ¸ā§āĻŸ āĻŸā§āĻ°āĻžāĻ¨ā§āĻ¸āĻŽāĻŋāĻļāĻ¨ āĻ‰āĻĻā§āĻŦā§‹āĻ§āĻ¨ | āĻ•āĻžāĻ˛ā§‡āĻ° āĻ•āĻŖā§āĻ ". Kalerkantho (in Bengali). Retrieved 2021-06-02.
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