Listed company Olympic Industries PLC has decided to purchase 102 decimals of land in Narayanganj to support its future business expansion.

The decision was approved at a meeting of the company’s board of directors held on August 10, according to Dhaka Stock Exchange (DSE) sources.

The land is located in the Brahmandi-37 mouza under Araihazar police station in Narayanganj district. Olympic Industries will purchase the property from Jaman Mia, Moniruzzaman Bhuiyan and others.

The land has been valued at Tk 2.295 crore and will be registered in the name of Olympic Industries PLC.

According to the company, the land will be acquired to facilitate future business expansion, construction of necessary facilities and enhancement of its production and operational capacity.

The company will also bear applicable VAT, taxes and other registration-related expenses associated with the purchase.