Envoy Textile has chosen to establish a spinning project expansion unit at its current plant premises at a cost of Tk 1761.90 million.
The new extension project will be built at Jamirdia, Bhaluka, Mymensingh, and will have a capacity of 3,710 metric tonnes of cotton-polyester-spandex core-spun yarn per year. Subject to normal business and health environment conditions, the project is expected to be completed by July 2022. It is believed that around 98% of capacity is being used.
For the fiscal year ending June 30, 2020, the business paid a cash dividend of 5.0 percent. The initiative is projected to pay for itself in seven years. The paid-up capital of the business is Tk 1.67 billion, the authorised capital is Tk 4.0 billion, and the total number of securities is 167.73 million.