Bangladesh's DBL Group to invest $650 mn in 3 yrs to set up 10 plants

25 Aug '21

1 min read

Pic: DBL Group

Bangladesh’s DBLGroup will invest $650 million in three years to set up 10 manufacturing units for textiles, ceramics and sanitary ware at the Sreehatta Economic Zone in Moulvibazar, the company announced recently at the foundation stone laying ceremony of the DBL Industrial Park. The state-run zone has received $1.5 billion in investment proposals till now.

Set up in 1991, the group has stakes in apparel, textiles, tiles, pharmaceuticals, dredging, semiconductor design, information and communication technology and telecommunications sectors. It has also invested in Ethiopia, where it has an apparel and textile factory.

DBL would begin the construction of a spinning mill this month, the group’s managing director MA Jabbar told the event.

Twenty eight economic zones, including 14 state-owned, are operational. The industrial park of the group is expected to generate $500 million in revenues annually.

The park will also have a polyester recycling unit as well to produce staple fibre as a raw material for spinning factories with a targeted production capacity of 18 tonnes per day, according to media reports in the country.

Fibre2Fashion News Desk (DS)

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