An initiative under public-private partnership (PPP) to revive the closed 13 textile mills in Bangladesh. The proposal from the Bangladesh Textile Mills Corporation (BTMC) has been approved by the cabinet committee on economic affairs in this regard.
The mills will be implemented, maintained and market products of the project by the party. Allotment of BDT 15,200 crore for the purchase of new machinery to replace the obsolete ones and run these mills as part of the textile sector’s largest project till now, Bangladesh report said.
BTMC out of 86 state-owned textile mills handed over 60 mills to the Privatization Commission and runs 24 factories across the country at present.
The proposal state that the 30-year-tenure PPP, in which the Bangladesh Jute Mills Corporation will be the major partner, can be renewed. The project ensures proper use of 380.47 acres of land allocated for the textile sector.
– Apparel and Textile News, Apparel Talk, Indian Apparel
