S Korea's Youngone to invest $500 mn in textiles, IT in Bangla KEPZ
14 Apr 22 1 min read
KEPZ, owned by the company, now hosts 40 green factories. It plans to build another 35 factories.
In its textile zone, three out of five planned factories have been completed. Once all five are completed, KEPZ expects this to function as the country's ‘textiles hub’ to produce and supply high-quality man-made fibre (MMF).
This would help Bangladeshi apparel makers to locally source the fibre and make more value-added and high-end apparel, according to a news report from Bangladesh.
- Intertextile Shanghai Apparel Fabrics ushers in 30th anniversary
- China’s textile & garment exports rise slightly in Jan-Apr 2024
- Picanol to debut Ultimax rapier weaving machine in Türkiye at ITM 2024
- Cotton yarn prices steady in south India, demand weak
- Pakistan's textile & apparel exports down 0.25% in Jul-Mar FY24
- Switzerland’s Stäubli to showcase latest textile tech at ITM 2024
The man-made fibres include polyester, rayon or synthetic wool. This business now generates $100 million dollars for Youngone. Sung expects this would become a half a billion-dollar business in the next five years.
Located in Anwara, the KEPZ is the biggest private EPZ in the country that was given the go-ahead in 1996 and its land acquisition was completed in 1999.
Fibre2Fashion News Desk (DS)
Popular News
|
China's e-commerce logistics sector sees growth in April 2024 |
|
Global cotton market witnesses steep decline in benchmark prices |
|
NCTO outlines steps for US to reverse fall in textile manufacturing |
|
3 RCEP members among top 10 markets for Cambodian garments |
|
Kenya’s big apparel export goals |
|
Small spaces dominate US retail leases in Q1 2024: JLL report |