Fifteen shuttered Beximco Textile factories are set to reopen in December under a new partnership involving Janata Bank, Japan-based Revival, and US firm Ecomillie. The agreement—worth an initial $20 million in financing—is expected to be signed next week pending final approval from Janata Bank’s board and an advisory committee.
The revival plan aims to re-employ over 25,000 workers who lost their jobs after the mills closed nine months ago. Although Beximco Textiles amassed nearly Tk 35,000 crore in debts, revival will not take on any previous liabilities. Instead, Janata Bank will channel all net profits during the contract period to recover outstanding loans and repay Tk 585 crore the government provided during the closure.
The new deal will run for two years and four months, with options to extend. Revival will supply working capital and earn a 1.5%–2.5% service fee on export earnings, while Beximco Group will receive no share of profits.
Authorities expect operations to gradually scale up, with full production targeted by December 2025. Revival and Ecomillie may increase their financial support to $100 million through back-to-back LCs if required.
Officials describe the initiative as a model of international collaboration that can modernize Bangladesh’s textile sector, boost global buyer confidence, and shift the industry from low-cost production to design-driven innovation. Revival’s leadership says the effort is focused on restoring “dignity and trust” for thousands of affected families.
