The manufacturing facility, being evolved on 20 acres of land in BangabandhuShilpa Nagar, has to date made 90% development in its paintings. It has invested $131 million to supply 4 styles of merchandise, along with polyester draw textured yarn (DTY), polyester absolutely drawn yarn (FDY), polyester staple fibre (PSF), polyethylene terephthalate (PET) chips, to offer backward aid to readymade garment, shoes and vehicle-making industries. Currently, Bangladesh relies upon on imports of such uncooked substances from China, Indonesia, Korea and India etc.
Company officers claimed that when the manufacturing facility is going into operation in March-April 2023, it’s going to have capability to satisfy a chief part of neighborhood call for for artificial and polyester fibres and yarns. “We will meet 60-70% of call for with our merchandise synthetic,” Abu SufianChowdhury, coping with director of Modern Syntex, advised The Business Standard. Apparel marketers say Bangladesh has possibilities to beautify its stake in non-cotton clothing gadgets withinside the worldwide market. So, they’re now making an investment to boom their capability of producing such merchandise. If artificial yarns and fabric may be sourced locally, it is going to be instrumental in saving forex and additional time had to import from overseas countries.
ShafalBarua, trendy manager (technical) at Modern Syntax, stated, “Around 90% of the civil paintings of the manufacturing facility has already been completed. The every day manufacturing goal of the manufacturing facility could be 460 tonnes. The manufacturing facility will rent 1,500 people. The annual turnover could be $2 hundred million.” All merchandise synthetic could be offered locally, he additionally stated, adding, “We have plans to extend the manufacturing facility withinside the subsequent 5 years.”ShamsulAzam, director at Bangladesh Knitwear Manufacturers and Exporters Association, stated, “The u .s .a .has a call for for round 2 lakh tonnes of artificial and polyester yarns. It is ideal information that Modern Syntex will meet a massive portion.” This will take the u. s. a.`s garment zone one step ahead, he added. BGMEA vice-president ShahidullahAzim stated Bangladesh need to make investments extra in production artificalfibres and fabric to live eligible for the GSP plus facility after LDC graduation.