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Fabric manufacturing company to set up plant in EPZ

12
Feb '07
Due to the increase in price of cotton in international market, Jiangu Red Bud Dying Technology Company is going to produce fabrics from jute.

Company is planning to set-up plant in Ishwardi Export Processing Zone (EPZ).

Bangladesh Export Processing Zones Authority (BEPZA) has received the proposal from the company to invest US $400 million in Ishwardi EPZ.

According to sources, company in future would increase its investment to $1 billion.

Company would produce 50 varieties of fabrics including denim from jute produced in Pabna and Jessore region.

Domestic industry has potential to become leading denim producer in the world because of its jute production capacity.

Last fiscal year, exports of jute yarn stood at Tk1157 crore, an increase of 12.5 percent.


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