VIP Nitol Ltd (VNL), a 50:50 joint
venture between VIP Industries Ltd of India and Nito Motors of Bangladesh, has
plans to manufacture VIP luggage and Moderna chairs in Bangladesh. An agreement
to this effect was signed on 31 August 2001.
VNL plans to set up a plant for this purpose in
Bangladesh with an investment of Rs.8.5 crore. VIP Industries will be providing
technical knowhow required for setting up the plant, which is expected to commence
production within the next six months.