The allotted fund would be spent under a project titled ‘Modernisation, Rehabilitation, and Extension of three Jute Mills’, to be implemented by the Bangladesh Jute Mills Corporation (BJMC), according to Bangladesh media reports.

The mills were set up in 1960s and their production capabilities have fallen beyond repair.

Of the total project cost, Tk150 crore will come from the government exchequer while the rest would be collected from the BJMC’s own fund. The deadline for completing the project is 30 June 2020.

Around 390 pieces of equipment will be purchased for these three factories. Office buildings, storehouses and staff quarters will be built as well. (DS)

Fibre2Fashion News Desk – India