DBL Group has launched its latest venture, the Jinnat Textile Mills Ltd, a spinning mill set to produce 42 tonnes of yarn daily from cotton and manmade fibres. This yarn will be exclusively used within their garment factories.
With an investment of million, the factory, situated in the DBL Industrial Park or Shreehatta Economic Zone in Moulvibazar, operates on a 15-acre land within the 170-acre zone.
MA Rahim Feroz, vice-chairman of DBL Group, highlighted their intention to utilize the yarn produced in-house to create fabrics for garment exports, a step aiming for timely, quality exports. The investment is expected to potentially boost export earnings by 5 percent annually, supplementing their 0 million garment export revenue from the previous year.
Currently operating partially, the mill is slated to achieve full capacity by the third week of December. The group’s plan includes further industrial units within the industrial park, contributing to the region’s economic expansion.
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Sarah Cooke, the British high commissioner to Bangladesh, inaugurated the facility, which received a million loan from the British International Investment (BII), the UK government’s development finance institution. Cooke emphasized the potential of the factory in generating employment, reducing poverty, empowering women, and fostering environmental sustainability.
Shaikh Yusuf Harun, executive chairman of the Bangladesh Economic Zones Authority, highlighted the mill’s role in economic growth. The facility is not only adopting green practices but is also creating 1,000 jobs, with more than half of them dedicated to women.
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The event saw the presence of Abdul Wahed, chairman of DBL Group, along with other key figures from the organization and Richard Palmer, director and head of private debt at BII. This initiative marks a significant step in both industrial and economic advancement for Bangladesh.
