Home / Knowledge / News / Textiles / Denim fabric maker Envoy Textiles plans spinning unit
Denim fabric maker Envoy Textiles plans spinning unit
26
Aug '14
Bangladesh-based denim fabric producer Envoy Textiles Ltd. is planning to set up a yarn spinning unit, 80 percent of which will be used for internal consumption, with the rest to be sold in the open market.

The spinning unit, to be set up at a cost of around Taka 235 crore, is expected to begin commercial production in the first quarter of 2016, the Daily Star reported.

Earlier on August 18, Envoy Textiles signed an agreement with HSBC Bank and BRAC Bank, who both together will finance about USD 20 million of the project cost.

The new spinning plant will have a yarn production capacity of 17,500 tons per annum.

“We will be a fully vertically integrated textile manufacturer after installation of the plant”, said Abdus Salam Murshedy, MD of Envoy Textiles.

He added, “Yarn produced at the unit will reduce the cost of production and increase the quality of our products and we will be able to be more competitive in the international markets.”

The bank borrowing, which will be under offshore financing arrangement for a maximum of five years, is subject to final approval from authorities.

The major machineries to set up the spinning unit will be imported from Germany, Switzerland and Japan.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Ikea

Textiles | On 26th Apr 2017

Ikea’s product sourcing from India to double by 2020

Ikea, the global home furnishing giant from Sweden, plans to double...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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:
April 2017

April 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