B Mirror Report : Advanced Chemical Industries (ACI) PLC, a publicly traded corporation, plans to grow and diversify its operations. The corporation has made the decision to enter the housing and semiconductor industries.

The decision was approved at a board meeting held on Thursday, according to company sources.

Sources said that to start these two new businesses, ACI’s board has decided to establish two subsidiaries: ACI Properties Limited and ACI Semiconductor Limited.

ACI Properties Limited will have an authorized capital of BDT 100 crore and a paid-up capital of BDT 10 crore, with ACI PLC holding 85 percent of the shares.

Similarly, ACI Semiconductor Limited will have an authorized capital of BDT 100 crore and a paid-up capital of BDT 10 crore, with 85 percent of shares owned by ACI.

The rising demand for household products in the country has led to the establishment of new companies and factories in this sector. Semiconductors are essential for these products. To meet this growing demand, ACI has decided to enter the semiconductor business. The global semiconductor market is also very large, currently valued at around $772 billion.