Home / Knowledge / News / Textiles / Bangladesh, China sign MoUs for modernizing jute mills
Bangladesh, China sign MoUs for modernizing jute mills
23
Aug '14
Jute mills in Bangladesh are expected to get modernized as the country has signed three memorandum of understandings (MoUs) to receive technical assistance from China, BSS reported.
 
As per the MoUs, all the 26 old jute mills under the Bangladesh Jute Mills Corporation (BJMC) will be surveyed with the grant to be provided by the Government of China.
 
Subsequently, the China TextMatek Company (CTMC) will undertake Balancing, Modernization, Rehabilitation and Expansion (BMRE) work at these jute mills.
 
In addition, the Government of China will also provide technology support for manufacturing latest and diversified jute items at the BJMCE jute mills.
 
As per the MoU, the Chinese Government will provide credit at 1.5 percent interest to Bangladesh for executing BMRE work. The amount so lent would be refundable within 20 years period.
 
BJMC is the biggest employer in the industrial sector of Bangladesh. It provides direct employment to about 70,000 workers and 5500 officers & staffs supporting the livelihood of around 6 million farm families. More than 50 million people are directly or indirectly involved with jute and jute related industries in Bangladesh, according to the BJMC website.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search