Olympic Industries PLC, a listed company on the stock market, has decided to purchase 32.87 decimals of land in Narayanganj for Tk 1.15 crore to support its future business expansion.

The decision was taken at a meeting of the company’s board of directors held on Monday (October 12), according to price-sensitive information (PSI) disclosed through the Dhaka Stock Exchange (DSE).

The land is located in the Changain mouza of Kachpur in Sonargaon upazila, Narayanganj, and will be purchased from three individuals for Tk 11,504,500.

In addition to the purchase price, Olympic Industries will bear the applicable value-added tax (VAT), taxes, registration fees and other related expenses. The company said the land would be used to construct facilities required for future operational expansion.

Earlier, on October 10, the company’s board decided to purchase a total of 1.3808 acres of land under two separate agreements at a combined cost of Tk 33.815 million.

According to DSE disclosures, Olympic Industries will purchase 68.50 decimals of land in Madanpur mouza under Bandar Police Station in Narayanganj for Tk 16.44 million from Anwar Hossain and Ibrahim Pradhan.

The company will also acquire another 69.58 decimals of land in the same mouza from Selim Ahmed and others for Tk 17.375 million.

The latest land acquisition decisions reflect the company’s plans to secure additional land for its future business and operational expansion.