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Nitol Niloy Group
Formation1980
Headquarters Dhaka, Bangladesh
Region served
Bangladesh
Official language
Bengali
Revenue
IncreaseUS$128 million (2017)
Staff
3,170
Website www.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

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

  • 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

  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.
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