Bangladesh's Paramount Textile to invest $85.45 million in BMRE

Paramount Textile expects to generate an additional revenue of $7 million per month after the expansion, as per the filing.

The new unit will be capable of producing 400 tonnes of fabric per month, thus almost doubling the total production capacity of the company, Bangladeshi media reports quoted company secretary of Paramount Textile Md Robiul Islam as saying.

The company is looking to expand to tap into the increasing demand for manufactured products as orders increase amid the pandemic, added Islam.

ALCHEMPro News Desk (KD)