A well-known Chinese company, Xingchen Textile Co Ltd, has formally agreed to invest US $ 35.03 million to build a textile recycling facility in the Mongla Export Processing Zone (EPZ). The agreement, which was signed with the Bangladesh Export Processing Zones Authority (Bepza) on Sunday, intends to support the regional textile sector by implementing environmentally friendly recycling techniques.
By recycling discarded fabric from garment factories, known as “jhut” in Bangladesh, the new factory is anticipated to generate 20,000 tonnes of yarn and 12,000 tonnes of woven fabrics yearly. Additionally, the project is expected to give local workers about 600 new job opportunities.
During a ceremony at the Bepza Complex in Dhaka, Chen Dehong, chairman of Xingchen, and Md Ashraful Kabir, member (investment promotion) of Bepza, signed the agreement. Bepza’s executive chairman, Maj Gen Abul Kalam Mohammad Ziaur Rahman, was present at the event.
Xingchen is the second Chinese investor to build a textile recycling facility in the Mongla EPZ, and this investment represents a major step in encouraging eco-friendly practices in the textile industry.
