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Adamjee Jute Mills to restart with modern machinery
13
Sep '10
Adamjee Jute Mills would soon be restarted. The government proposes to commence work on the project, as soon as it regains possession of the 22 acre plot of the closed mill from Bangladesh Export Processing Zone Authority (BEPZA).

Bangladesh Jute Mills Corporation (BJMC) is all set to commence work on the project as soon as they get through with the procedure of getting back the land from BEPZA. The overall project cost for construction of the 1000-loom jute mill is estimated at Tk 6.08 billion.

The first phase of the project would see the authorities working on construction of an export-oriented 500-loom mill under 'Jute Yarn Diversity' and its full capacity, would generate employment opportunities for over 5,720 people

It was during former BNP-led four-party alliance government's reign that, Adamjee Jute Mills was closed down, as it was sustaining heavy losses. Subsequent to the closure of the mill, entire property and premises of the mill were entrusted to BEPZA for transforming it into an export processing zone.

The then government intended to establish 50 industrial units on the mill's property at a cost of $400 million, and for the reason got in touch with several local and abroad investors but attained no positive response.

However experts from the jute sector are extremely pessimistic about the BJMC setting up and managing another jute mill, since BJMC has been found wanting in management capabilities and has been toting up huge losses since a long time.

Fibre2fashion News Desk - India


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