Despite the several challenges faced by the Bangladeshi textile and garment industry, including a slowdown in export orders, a few companies are planning to invest altogether Taka 12,000 crores in new projects and automation.
This amount will be spent over the next 2-3 years and will be invested in the production of manmade as well as recycled fibers, yarns, fabric, automation, and robotic technology and create around 50,000 new jobs.
“The investment in automation and robotics is being done to diversify the garment product portfolio, rather than expansion, to secure a better future for the respective companies,” media reports stated.
The investments include those from leading garment exporter, Hameem Group, which is setting up a garment-cutting waste recycling unit and an outerwear factory with 16 production lines.
The Windy Group is investing Taka 500 crore to modernize its machinery and also enhance production.
Pacific Jeans Group will specialize in high-value formal wear, including suits, blazers, jackets, and coats, and set up a new facility at a cost of US $31.75 million.
Pacific Jeans is also setting up a recycled fiber project set to go into production by January next. This initiative is centered on recycling fabric cuttings into fibers.
Shasha Denim is spending on setting up a green garment and washing unit, while also increasing its production capacity at an investment of Taka 200 crore with more investments planned in the future.
Nipa Group will spend Taka 400 crore to set up an MMF-based fabric mill and dyeing facility producing two lakh yards of fabric per day.
The Indet Group is embarking on an investment of around Taka 400 crore to set up an industrial park with a green concept, which will also have a platinum green certification.
Team Group is channeling an investment of around Taka 1,800 crore to increase sweater and knit composite production capacity and establish new facilities, including a denim garment unit.
The investment will also include a zero-discharge washing plant and provisions for accessories and man-made fiber-based fabrics intended for an outerwear factory.
Along with investments in various sectors like textile, ceramics, and pharmaceuticals, the DBL Group is investing around $650 million.
Bangladeshi companies bet big with Taka 12,000 crores investment
