Envoy Textiles Limited, the world’s first LEED Platinum-certified denim textile mill, has announced plans to invest Tk 23.70 crore in a waste fabric recycling plant at its factory in Bhaluka, Mymensingh. The plant, expected to be operational by June 2025, will convert local and in-house waste fabrics into high-quality recycled fibre, reducing reliance on externally sourced cotton.
Financed through a 70-30 loan-to-equity ratio, the project aims to boost production capacity, align with sustainability requirements, and enhance operational profitability. The company anticipates generating an additional Tk50 crore in revenue annually and expects yearly profits of Tk8 to Tk10 crore under favorable market conditions.
Founder and Chairman Kutubuddin Ahmed highlighted the plant’s potential to improve eco-friendly practices and competitiveness, increasing earnings by 5 to 8 cents per yard of exported fabric. The facility will process 12 tonnes of waste fabric daily with a 98% recovery rate, advancing sustainability goals.
Comment here