The Government of Bangladesh has decided to establish a “textile village” on land of a defunct cotton mill.
The decision to set up the textile village on 33 acres land of state-owned Chittaranjan Cotton Mills Ltd, which had ceased operations more than 15 years ago, was taken by Cabinet Committee on Economic Affairs.
The new structure to take form at the site of closed mill at Godnail in Narayanganj is proposed to be named as Chittaranjan Textile Palli.
In its proposal, the Textile and Jute Ministry noted that it has been planned to develop 22 industrial plots on the site, 11 of which would comprise spinning, knitting and readymade garment units.
Another 10 plots adjacent to the river Shitalakkha would house dyeing and finishing units, while one plot would be reserved for commercial purposes.
As per the Ministry’s preliminary estimates, the plots are likely to fetch a price of around Tk 1.59 billion. However, more revenue could be earned if the industrial plots are sold through competitive bidding, the proposal said.
It said that there are meagre chances of securing a financially viable deal if the entire 33 acres of land is sold to one single entrepreneur.
However, if it is fragmented into small plots, it would not only generate higher employment, but would also enhance its ecological sustainability, as it can facilitate installation of a central effluent treatment plant and a separate power plant for the village, the proposal said.
Post nationalization in 1972, Chittaranjan Cotton Mills functioned under Bangladesh Textile Mills Corporation (BTMC). But owing to heavy losses, the mill was closed down in 1997.
Fibre2fashion News Desk - India