Sheltech expands across agro-processing

Sheltech Group, a major real estate and textile conglomerate, is expanding its operations to diversify its portfolio and tap growing opportunities in both domestic and export markets.

In May this year, the group began production at its new agro-processing plant, Spain Bangladesh Agro Industry Ltd, in Parbatipur, Dinajpur. The facility processes corn, pineapples, mangoes, tangerines, jackfruit, potatoes and other local produce, mainly for export.

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The Tk 400 crore project has been turning fruits and vegetables into canned, ready-to-eat products over the last couple of months and has already started exporting, said Tanvir Ahmed, managing director of Sheltech Group.

He said the products are designed to meet international retail standards, with a focus on markets such as the European Union.

Sheltech Group’s agro-processing unit in Dinajpur is processing corn, pineapples, mangoes, tangerines, jackfruit and potatoes mainly for export

“Our shipments have already started, marking Bangladesh’s entry into the processed canned fruit and vegetable export market,” he added.

The plant is expected to bring around 40,000 farmers under contract farming and directly employ about 1,500 workers.

“We are diversifying our portfolio and expanding into multiple sectors to tap growing opportunities in both domestic and export markets,” he said.

Spain Bangladesh Agro is one of Sheltech’s initiatives, in which it holds a 50 percent stake.

The group has an annual turnover of nearly Tk 6,700 crore and a workforce of around 16,000. It has allocated Tk 575 crore to build a 17-storey shopping complex in Banasree, Dhaka.

Tanvir said construction of the green building, which will have about 200,000 sq ft of commercial space, will begin this month. Sheltech aims to complete it by January 2030.

He also said the group is developing 21 residential projects in Jolshiri Abashon through joint ventures, with an investment of Tk 265 crore.

In textiles, Envoy Textiles Ltd plans to invest Tk 179 crore to expand spinning capacity by 25 tonnes per day for blended yarn, with completion expected by February 2027, he said.

He added that Sheltech owners and associated entities are among Envoy Textiles’ major shareholders.

The group also plans to generate 10 megawatts of solar power across its operations to reduce carbon emissions and improve energy sustainability, he said.

Established in 1988, Sheltech has a workforce of around 16,000.

Tanvir expects the group’s annual turnover to rise to about Tk 9,200 crore by 2030, driven by agro-processing exports, Jolshiri real estate sales, the Banasree retail complex and expanded textile capacity.