Bangladesh's DBL Group to invest $650 mn in 3 yrs to set up 10 plants

Set up in 1991, the group has stakes in apparel, textiles, tiles, pharmaceuticals, dredging, semiconductor design, information and communication technology and telecommunications sectors. It has also invested in Ethiopia, where it has an apparel and textile factory.

DBL would begin the construction of a spinning mill this month, the group’s managing director MA Jabbar told the event.

Twenty eight economic zones, including 14 state-owned, are operational. The industrial park of the group is expected to generate $500 million in revenues annually.

The park will also have a polyester recycling unit as well to produce staple fibre as a raw material for spinning factories with a targeted production capacity of 18 tonnes per day, according to media reports in the country.

ALCHEMPro News Desk (DS)