Two Japanese firms have signed a joint-venture agreement with a Bangladeshi domestic firm to set up an apparel manufacturing facility in Dhaka.
The two companies are Kurabo Industries Ltd and Matsuoka Corporation, Ltd. The JV christened MK Apparels Limited is scheduled to begin production from March 2011.
Capitalized at US $5.88 million, the annual production capacity of the apparel manufacturing plant will be 2.4 million units and is expected to have a turnover of ¥300 million.
This plant will help both the Japanese firms to fulfill the requirements of their buyers and customers in Europe, USA and their home country.
Fibre2fashion News Desk - India
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