Nitol Niloy Group

From Wikipedia, the free encyclopedia
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: 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]

  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. ^ a b c "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. ^ a b "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. ^ a b 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. ^ a b "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. ^ a b "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. ^ a b "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. ^ "রেডিও নেক্সট ৯৩.২ এফএমের টেস্ট ট্রান্সমিশন উদ্বোধন | কালের কণ্ঠ". Kalerkantho (in Bengali). Retrieved 2021-06-02.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Nitol_Niloy_Group&oldid=1214995740"