Emerald Oil Industries Limited is preparing to restart production at its factory after a prolonged shutdown, with plans to invest around Tk 10 crore in new machinery, renovation, and maintenance.
The food and allied sector company disclosed the information on Wednesday through the Dhaka Stock Exchange (DSE).
According to the company, production has remained suspended since January 1, 2024, due to an inadequate gas supply. After nearly two and a half years of inactivity, the board of directors has approved necessary repair and renovation work to make the factory operational again. The responsibility for implementing these activities has been assigned to the company’s management.
As part of the preparation, the company has already procured a new boiler, a transformer, and an electrical substation. Installation of the equipment is currently underway. At the same time, repair and maintenance work across the entire plant, including the refinery unit, is progressing in full swing.
The company estimates that the total cost of procuring new equipment and carrying out renovation and maintenance will be around Tk 10 crore. A final decision on resuming production will be taken upon completion of these works.
