City Group (Bengali: সিটি গ্রুপ) is one of the largest Bangladeshi conglomerates. It began on 6 February 1972 as a mustard oil company venture under the name City Oil Mills. The first project of City Oil Mills turned out to be very successful. After then, the company grew very quickly. It presently owns more than 25 major concerns located throughout Bangladesh. Now, City Group stands as one of top ten business houses in Bangladesh.[2]
 | |
| Company type | Private |
|---|---|
| Industry | Conglomerate |
| Founded | 6 February 1972 (as City Oil Mills)[1] |
| Founder | Fazlur Rahman |
| Headquarters | City House, House # NW(J) 06, Road # 51, Gulshan-2, Dhaka- 1212, Bangladesh |
Key people | Fazlur Rahman (chairman & managing director) Md. Hasan (director) |
| Products | Consumer goods, foods, steel, printing & packaging, shipping, power & energy, shares and securities, insurance, media, healthcare etc. |
| Brands | TEER, BENGAL, SUN, NATURAL, JIBON, QUICK BITE, ASGAR ALI HOSPITAL |
| Revenue |  ৳25000 crore (US$2.1 billion) (2021) |
Number of employees | 25,000+ (2022) |
| Website | https://citygroup.com.bd/ |
History
editCity Group was established by Fazlur Rahman, a business magnate in the private sector of Bangladesh. City Group began on 6 February 1972 as a mustard oil company venture.[3] After its first successful project, City Group invested in new fields, including manufacturing, industry and trading. More enterprises were established in the early 1990s; these included consumer goods, foods, steel, printing & packaging, shipping, power and energy, shares and securities, insurance, media, and healthcare.[4]
On 4 October 2017, the Government of Bangladesh approved the export of 57,273 tones of Sugar by Deshbandhu Group and City Group.[5]
City Hi-Tech Park
editCity Group is planning to build a Hi-Tech Park in Demra, Dhaka which will be biggest hi-tech park developed by a private company.[6] Total investment target is 50 billion BDT and expecting to create 15,000 jobs. The park to be built in on 115 acres of land area in Demra.
The park will be used to manufacture technology products such as microprocessors, chips, circuits, mobile phones and laptops.[7] The investors of the park will get government facilities fast and also one stop service from the authority.
Controversy
editOn 14 July 2022, A Chattogram court issued arrest warrant for City Group Chairman Fazlur Rahman, in a case filed by the Bangladesh Standards and Testing Institution (BSTI) for not maintaining standard Vitamin A levels in soybean and palm oils.
Prior to that, on October 20, 2019, BSTI inspector Rajiv Dasgupta filed a case as the group’s “Teer” oil failed to pass the "Vitamin-A" test in BSTI lab. In the case statement, the allegation was brought against Fazlur Rahman saying that he violated the government order and act by not following edibles oil fortification with Vitamin A Act-2013. [8]
List of companies
editCity Group now operates over 25 major concerns:[9]
- Asgar Ali Hospital Ltd.
- Ekhon Television Spice Television Limited.
- C.S.I Power & Energy Ltd.
- Chandpur Belgaon Tea estate, Banskhali, Chittagram.
- City Bran Oil Ltd.
- City Dal Mills Ltd.
- City Edible Oil Ltd
- City Feed Products Ltd.
- City Fibers Ltd.
- City Navigations Ltd.
- City Oil Mills
- City PET Industries Ltd.
- City Re-rolling Mills
- City Salt Industries Ltd.
- City Seed Crushing Industries Ltd.
- City Sugar Industries Ltd.
- City Vegetable Oil Mills Ltd.
- Deepa Food Products Ltd.
- Dhaka Insurance Ltd.[10]
- Farzana Oil Refineries Ltd.
- Hamida Plastic Industries Ltd.
- Hasan Containers Ltd.
- Hasan Flour Mills Ltd.
- Hasan Plastic Industries Ltd.
- Hasan Printing & Packaging Ltd.
- Hasan Securities Ltd.
- Nahar Tea Estate, Sreemongal, Moulovibazar.
- New Sagurnal Tea Co. Ltd. Juri, Moulovibazar.
- Rahman Synthetics Ltd.
- Rupshi Flour Mills Ltd
- Shampa Flour Mills Ltd.
- Shampa Oil Mills Ltd.
- Somoy Media Ltd.[11]
- Speech Bubble Communications Ltd.
- VOTT Oil Refineries Ltd.
See also
editReferences
edit- ^ "City Group : Timeline". Archived from the original on 29 October 2016. Retrieved 4 May 2014.
- ^ "Top 10 Group of Companies in Bangladesh". Business Inspection.
- ^ "City Group: Timeline". www.citygroup.com.bd. Archived from the original on 29 October 2016. Retrieved 29 October 2016.
- ^ "Bottled soybean oil up, as refiners renege on promises". The Financial Express. Dhaka. 24 July 2012. Retrieved 20 October 2013.
- ^ "City Group, Deshbandhu get nod to export sugar". The Daily Star. 4 October 2017. Retrieved 8 June 2021.
- ^ "City Group to set up hi-tech park in Demra". The Financial Express. Dhaka. Retrieved 2 December 2022.
- ^ Hasan, Mahmudul (20 August 2021). "City Group to build Tk 5,000cr hi-tech park". The Daily Star. Retrieved 2 December 2022.
- ^ "Ctg court issues arrest warrant against City Group chairman". www.thedailystar.net. Retrieved 14 July 2022.
- ^ "City Group : Concerns". www.citygroup.com.bd. Archived from the original on 29 October 2016. Retrieved 29 October 2016.
- ^ "View Chairman". www.dhakainsurancebd.com. Retrieved 29 October 2016.
- ^ "Islami Bank Bangladesh Ltd: News & Events". www.islamibankbd.com. Archived from the original on 29 October 2016. Retrieved 29 October 2016.