BATBC to build Tk 151cr warehouse
British American Tobacco Bangladesh (BATBC) has decided to invest nearly Tk 151 crore to construct a warehouse and set up ancillary facilities in its Savar factory.
The tobacco company, in existence for the last 112 years in the country, is going to invest Tk 150.8 crore to enhance its capacity and improve productivity.
The investment will be funded from internal sources and bank financing based on the cash flow of the company, said the BATBC in a disclosure that was posted in the Dhaka Stock Exchange website yesterday.
The multinational tobacco producer will construct a bonded warehouse of factory specification building standards for the storage of wrapping material, leaf and finished goods at a cost of Tk 103 crore.
Another Tk 24.5 crore will be spent for the electrical, fire detection and protection system, air conditioning and ventilation system and IT and security system for the bonded warehouse, it said.
The investment will be funded from internal sources and bank financing based on the cash flow of the company
It will also construct ancillary facilities at a cost of Tk 21.4 crore at the site for employee wellbeing, such as a mosque, canteen and training centre, and for factory services such as a waste management yard, fire station and equipment storage.
The rest Tk 1.90 crore will be spent behind the construction of a concrete road and underground drainage system, the company said.
The company got listed in 1977. Its paid-up capital is Tk 540 crore. Shares of the company remained the same at Tk 518 yesterday.
The BATBC's gross revenue was Tk 21,229 crore in the first half of 2023.
During the period, its profits amounted to Tk 949 crore.
It was Tk 913 crore in the same period of the previous year, according to the financial report of the company.