Home / Knowledge / News / Textiles / Bangladesh to revive 13 textiles mills under PPP mode
Bangladesh to revive 13 textiles mills under PPP mode
21
Dec '17
Bangladesh to revive 13 textiles mills under PPP mode
Bangladesh will restart 13 textiles mills, shut down 25 years ago due to losses, and run them under a public-private partnership (PPP) initiative. The cabinet committee on economic affairs has approved a proposal from the Bangladesh Textile Mills Corporation (BTMC) in this regard. The private party will implement, maintain and market products of the project.

BDT 15,200 crore will be allocated to purchase new machinery to replace the existing ones and run these mills as part of the textile sector’s largest project till now, according to Bangladesh media reports.

According to the proposal, the 30-year-tenure PPP, in which the Bangladesh Jute Mills Corporation will be the major partner, can be renewed. The project will also ensure proper use of 380.47 acres of land allocated for the sector.

The 13 mills up for overhaul are RR Textile Mill, Amin Jute and Textile Mills and The Asiatic Cotton Mill in Chittagong; Rangamati Textile Mill at Ghagra, Rangamati; Magura Textile Mill in Magura; Bengal Textile Mill at Noapara, Jessore; Rajshahi Textile Mill at Sapura, Rajshahi; Sundarban Textile Mill in Satkhira; Dinajpur Textile Mill and Jalil Textile Mill in Dinajpur; Darwani Textile Mill in Nipharmari; Dost Textile Mill at Ranirhat, Feni; and Afsar Cotton Mill at Savar, Dhaka.

Of the 86 state-owned textile mills, BTMC handed over 60 mills to the Privatisation Commission between 1977 and 2013, and runs 24 factories across the country at present.

The jute mills have been incurring losses for several years now. Their losses amounted to BDT 588 crore in fiscal 2015-16. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

Interviews View All

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search