Bangladesh’s SM Group to set up Tk 1.3 bn RMG unit
In spite of the pandemic situation, the SM Group has shown some hope by setting up a new RMG accessories factory that will provide more jobs, boost export, and improve the country’s economy in the near future.
Gazipur, Bangladesh
Even when the country is going through a
difficult time because of the COVID pandemic, SM Group, one of Bangladesh’s
leading textile industries, is planning to open an export-based accessories
factory in the country. The Group is planning to invest Tk 1.3 billion to set
up this factory.
The founding ceremony of the factory was
recently held in Gazipur and the factory will manufacture 20 different types of
garment accessories. The factory will be built on about 7.2 acres of land and
will have a production capacity of $30 million annually. The factory plans to
employ 2000 people and will start production in December 2021.
According to Syed A K Anwaruzzaman, Chairman,
SM Group, the factory will help generate employment and also boost exports
during the pandemic. The brand was able to make plans to open the new factory
thanks to the decision of the Bangladesh Government to keep Readymade Garments
(RMG) and other textile factories open.
This new factory will produce a variety of
fabrics including auto screen print, auto carton (SQM), crochet elastic, twill
tape, drawstring, and jacquard elastic. The factory will also produce 30-35
different kinds of accessories for the readymade garment exporters of the
country.
Source: The Financial Express
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