Japanese conglomerate Mitsui & Co., through its Singapore subsidiary, has acquired an 18.5% stake in ACI Motors from two existing investors for $22.75 million (around Tk270 crore), according to insider sources.
In a public statement on 29 November, Mitsui confirmed the investment without disclosing financial details, highlighting its plans to offer “integrated mobility and mechanisation solutions for agri-businesses, transportation, and infrastructure” in partnership with ACI Motors.
Following the deal, ACI Motors aims to strengthen its position in the market by leveraging Mitsui’s global expertise. Managing Director FH Ansarey revealed plans to expand into passenger and electric vehicles, rice processing, and export markets for locally manufactured agro machinery.
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As part of the collaboration, Mitsui will appoint two top-level executives to ACI Motors to enhance its strategic decision-making. Mitsui, a global giant with operations in 61 countries and annual revenue exceeding $100 billion, is expected to drive ACI Motors’ growth across diverse sectors.
ACI Motors, a division of ACI Limited, specializes in agro machinery, construction equipment, generators, two-wheelers, and commercial vehicles, with an annual revenue of over Tk3,000 crore. The company has attracted foreign investments from Dutch, British, Norwegian, and Singaporean entities in recent years, further boosting its growth trajectory.
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With this strategic partnership, ACI Motors looks to diversify into the car business and large-scale rice processing while exploring export opportunities for Bangladeshi agro machinery.
