DBL Group, one of the leading Bangladeshi apparel exporters, is going to get an investment worth $52 million from the UK-based development finance institution and impact investor British International Investment (BII), according to a report of TBS.
The media report also said that the apparel manufacturer will use the money to establish Jinnat Textile Mills Ltd, a greenfield cotton yarn spinning mill in Moulvibazar’s Srihatta Economic Zone.
The new facility, which is expected to begin operation in April 2023, will be housed in a LEED-certified green building and will create more than 1,000 direct new jobs for lower-skilled workers, with over 50% of the workforce consisting of women.
The loan, which has a tenure of eight years with a two-year grace period, will support the project’s total investment of $83.35 million and is expected to produce 44 tonnes of yarn per day, with an annual turnover of Tk463 crore, media reported.
Comment here