S Alam Group phasing out bus services

Chattogram-based S Alam Group is phasing out its bus service business as part of its move to concentrate on other segments, people familiar with the group said.

As part of that plan, the group on August 2 announced plans to sell 86 buses. Of those, 50 buses made by Ashok Leyland are very new and did not run on any route. Another 30 luxury buses, which have been converted from AC to non-AC buses will also be auctioned, a senior official of the group confirmed. The group will also sell five Hino buses and one minibus.

“Owners have decided to discontinue their bus operation as they are selling the buses in phases,” said the official requesting not to be named.

The official said buses to be sold out are displayed at different establishments of S Alam Group in Chattogram for interested buyers.

Insiders said once S Alam Group had around 450 buses in its fleet, but now the number has come down to less than 200.

S Alam Group has been in business for the last three decades. Inter-district bus services were one of the group’s first businesses.

Over the years, the group has expanded its businesses to many areas — from manufacturing to financial services and power plants.

Presently, the group manufactures CI sheets, colour-coated iron sheets, cement, vegetable oil, CR coil, soya seed extraction, public transport, gas refuelling station, PP woven bags, shrimp hatchery, refined sugar, agro farms, power generation plants, real estate, hotel & resorts, import and trading of commercial items, storage service of crude oils & garment accessories, etc, according to the company’s website.