DBL Group has initiated operations at its new spinning mill, Jinnat Textile Mills Ltd, with a daily yarn production capacity of 42 tonnes. This mill, situated within the 170-acre DBL Industrial Park, represents an $80 million investment by the textile and garment exporter. The facility, located in Moulvibazar, exclusively produces yarn from cotton and manmade fibers (MMF) for use in DBL Group’s garment factories. Despite already owning three spinning mills, the group previously had to source 42 tonnes of yarn daily from other mills to meet garment production needs.
MA Rahim Feroz, Vice-Chairman of DBL Group, stated that the entire yarn output would be utilized for fabric and garment production for export. The investment aims to enhance the group’s ability to export quality garments promptly, potentially increasing annual export earnings by 5 %. Last year, the group’s total export earnings from garment shipments amounted to $450 million. The new spinning mill, named Jinnat Textile Mills Ltd, has commenced partial operations and is expected to reach full capacity by the third week of December.
DBL Group plans to establish more industrial units in the industrial park, contributing further to economic growth. The inauguration of the facility was carried out by Sarah Cooke, the British High Commissioner to Bangladesh. British International Investment (BII), the UK government’s development finance institution, provided a $52 million loan for the establishment of the factory.
Comment here