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Bangladesh’s SM Group to set up Tk 1.3 bn RMG unit

May 05, 2021
Bangladesh’s SM Group to set up Tk 1.3 bn RMG unit

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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