Home / Knowledge / News / Textiles / Malek Mills to set up first ever petrochemical unit
Malek Mills to set up first ever petrochemical unit
07
Jul '10
Huge numbers of investors participated for the IPO of Malek Spinning Mills Ltd (MSM), early this week. The IPO subscription of Tk 1 billion has earned the biggest amount of Tk 16.31 billion, which is 16.31 times more than the actual IPO amount.

As per A Matin Chowdhury, Managing Director of the company said that, the firm will be making use of the earnings from the IPO to set up a PetroChemical Complex. This complex is likely to be the first of its kind in Bangladesh. Bottle Grade PET resin and Textile Grade Chips along with Polyester Fibre will be manufactured within this complex.

This will help replace imports, which in turn will help transform vital savings of foreign currency and also encourage tremendous growth in the polyester production industry, informed Chowdhury.

With a turnover of over Tk 3 billion per year, MSM is both one of the leading spinning mills of Bangladesh, avers, Moshiur Rahman, Director of the company.

MSM possesses the cotton USA license and is equipped with latest machines manufacturing yarn, which is utilised in the export market. It is also one of the only two firms of Bangladesh, which has received the USTERIZED certificate by Uster Technologies, Switzerland.

With a capacity of 6,000 spindles and yearly sales of Tk 95 million, currently, MSM's capacity is of 63,624 spindles along with a daily open-end capacity of 40 tons. Its estimated yearly sale is of about Tk 3.88 billion per year and the staggering growth rate if of 40 times in 21 years, informed, BK Chaki, DGM, Accounts and Finance.

Fibre2Fashion News Desk - India


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: 2XU

Apparel/Garments | On 15th Dec 2017

L Catterton Asia announces JV of GXG and 2XU

L Catterton Asia, the Asian unit of the largest and most global...

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Harsh Shah

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

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Jay Ramrakhiani
Occasions Elegance Wear

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

Tony Ward
Tony Ward

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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