Xingchen Textile Co Ltd, a Chinese company, has signed an agreement with the Bangladesh Export Processing Zones Authority (Bepza) to invest $35.03 million in a textile recycling factory within the Mongla Export Processing Zone. This facility will recycle scrap fabric, known locally as “jhut,” from garment factories to produce 20,000 tons of yarn and 12,000 tons of woven fabrics annually.
The project is expected to create 600 local jobs. The agreement was signed at Bepza Complex in Dhaka by Bepza’s investment promotion member Md Ashraful Kabir and Xingchen chairman Chen Dehong. Xingchen is the second Chinese firm to plan a recycling facility in the Mongla EPZ.
Photo Courtesy by : The Business Standard
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