Meghna Group

Background

Meghna Group of Industries (MGI) is one of the leading conglomerates of Bangladesh. It operates 45 different factories and produces a variety of consumer goods. Its yearly turnover is USD 2.5 billion. The predecessor of the Group is Kamal Trading Company which was established by the MGI???s founding chairman Mostafa Kamal in 1976. Mostafa Kamal and his two children jointly own 50 percent share of Ekattaor TV. 

Affiliated Business

Meghna Group of Industries produces various fast-moving consumer goods (FMCG) such as edible oil, flour and lentil, sugar, salt, tea, milk, spices,beverage, tissue under its brands ???Fresh???, ???No.1??? and ???Pure.??? It has three edible oil mills, three flour and lentil mills, three beverage factories, one sugar mill, one salt factory and one seed crushing mill. Meghna Tea Company Ltd is MGI???s tea venture. 

MGI is the first Bangladeshi company to set up a private economic zone. It has recently opened 9 new industrial units with an investment of around BDT 4000 crores. Currently, it owns two economic zones: Meghna Economic Zone and Meghna Industrial Economic Zone.

MGI owns one small power plant and one captive power plant, mainly used to meetthe power requirements of MGI. It sells surplus electricity to the government and other industries.

MGI has expanded its business in the construction sector. It has steel mill and cement factory. Meghna Properties Ltd. is its real estate wing.

MGI has investments in ship building dockyard, shipping & logistics and aviation business.

In the financial sector, MGI has invested in bank, securities and insurance companies. Mostofa Kamal and his two children hold directorship of Modhumoti Bank Limited. MGI also owns Dhaka Securities Ltd and Bangladesh National Insurance Company Ltd.

Ownership

Mostafa Kamal is the founder Chairman and Managing Director of Meghna Group of Industries. Other five board members of MGI include Mostafa Kamal???s wife and their four children.

Legal Cases

It was alleged that Meghna Group Chairman Mostafa Kamal evaded crores of taka in taxes by under-invoicing import costs of milk products. The Anti-Corruption Commission questioned Mostafa Kamal in connection with this tax evasion and money laundering case in 2014.

There are also allegations against Meghna Group for setting up industrial structures grabbing the bank of River Meghna. MGI-owned Meghna Economic Zone is located on the bank of River Meghna and it is a major source of pollution of the River. 

Contact Details

Fresh Villa

House # 15, Road # 34

Gulshan-1, Dhaka-1212, Bangladesh.

Phone: + 88 09666777055

Fax: +880-2-9884896, 9889361

E-mail: info@meghnagroup.biz

Web: www.meghnagroup.biz

Sources

Meghna Group of Industries, About us, accessed July 20, 2020.

Prothom Alo, ???????????????????????????????????????????????????????????????????????????????????????????????????????????????,October 20, 2013

The Daily Star, ???From catkin field to the model economic zone??? March 1, 2020.

Dhaka Tribune, ???Meghna Group chair faces ACC interrogation??? October 27, 2014.

The Daily Sun, ???Meghna Group grabs Meghna??? September 14, 2019.

Sangbad, ????????????????????????????????????????????????, September 02, 2019.