A Bangladeshi has created a stir by proposing to invest about 1 billion dollars in the Italian tourist city of Venice. As the amount of investment is large, it has created interest in the Italian media. The news has been spread widely.
This Bangladeshi wants to invest in the construction of a car factory in Venice’s Porto Marghera industrial area. For this, he sought permission from the Venice mayor’s office through the Bangladesh Consul General office in Milan.
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Expatriate Bangladeshi industrialist who proposed this investment. W Chowdhury. He is the president of Epsilon Motors Inc., a US-based all-electric vehicle manufacturer.
This year, along with some business partners, D.B. Chowdhury established Maryland Epsilon Motors in the United States. Most of the entrepreneurs are Bangladeshis. And many of the members of the expert team once worked in the factories of the world-famous car manufacturer Mercedes Benz in Germany and China.
The company claims to have developed core competencies in contributing to research into alternative energy sources through manufacturing electric vehicles, battery recycling technology.
According to media reports and expatriate journalists, they are interested in investing in Venice to set up a factory to manufacture electric cars. Dablo Chowdhury applied as principal on behalf of Epsilon Motors.
The investment proposal is made as a US company. But as a Bangladeshi, Dablo Chowdhury sought the help of the Bangladeshi embassy.
Dablo Chowdhury, the son of Kushtia, grew up in Dhaka. He has been out of the country since 1987. Studied in Switzerland. Along with Bangladesh, UK also has citizenship. There are car businesses in various European countries.
Talking to UK-based international media BBC, Dablo Chowdhury said, ‘Epsilon Motors’ journey is to do something unique and sustainable. Our plan was, if we can do something that will be in high demand in the future and that is environmentally friendly then our work will be sustainable. That’s why the decision to make an electric car.
It is known that Dablo Chowdhury tried to set up a factory in Portugal before Venice. But it was not possible due to lack of suitable and necessary space. It is also on the list of favorites in several other European countries. But everything depends on the decision of Venice.
Consul General of Bangladesh in Milan, MJH Jabed, told the BBC that D.B. Chowdhury had originally sought permission from the authorities to open a factory in Venice through him.
The Consul General said, as a Bangladeshi citizen, Dablo Chowdhury approached us with an investment proposal, seeking the help of the Bangladesh Embassy in finding suitable land and obtaining permission from the appropriate authorities.
After that, the Consul General of Bangladesh delivered the letter of D.B. Chowdhury to Sebastian Costalonga, Chief Deputy Mayor of Venice Commune’s Accessory Comercio Means Trade Department.
“When I went to Venice myself, I personally delivered his application to the authorities,” added MJH Javed.
In the letter to the authorities, the investment amount could be up to $920 million, the Consul General said.
The mayor’s office is reviewing his proposal and Dw Chowdhury is expected to meet with Venice Mayor Luigi Brunaro soon.
If the permission of the authorities is obtained, the work of setting up this factory will start next year. They expect that about 1000 workers will be provided with jobs. Besides, there is also a plan to open a lithium battery factory in the original plan.
There has been mixed reaction among the diaspora regarding the large Bangladeshi investment. Along with the storm of congratulations on social media, there are also many negative comments from Bangladeshi people. In particular, they have questions about the source of funding.
Where will the investment come from – In response to a question from BBC, Dablo Chowdhury said that the investment for the planned factory will come from a group of venture capitalists from the United States and the Middle East.
By 2035, electric cars will dominate in all US states, England and other big cities – he said, ‘For this reason, governments of various countries, including China, are now giving incentives to those who are making and selling electric cars.’
“Now the venture capitalists will invest money, and we have the technology and the technical side, we are going to take this initiative together,” added Dablo Chowdhury.
In response to the questions of the journalists, Dablo Chowdhury said, ‘As a specialized industrial unit, this factory will be dependent on skilled, highly educated and qualified manpower. Bangladeshis will have opportunities based on merit.’
D.B. Choudhary’s Epsilon Motors aims to become a leading global car manufacturer. Contributing to building a better world for the next generation by creating zero carbon emission vehicles with the best value and service to customers.
In a message on the organization’s website, Chief Executive Officer (CEO) Sourav Mohammad said, ‘We are committed to ensuring that our next generation has a green, sustainable, innovative and healthy environment. which was in the past.’
The slogan of the organization is ‘Move into the future with us.’
Tags: Bangladeshi invest billion dollars Italy
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