Noman Group of Industries is set to expand its business in polyester-based fabric manufacturing mainly to cater to the growing demand for the manmade fiber across the globe.
"We are planning to invest about Tk 5.0 billion in the next three years to set up a unit initially to produce georgette and chiffon yarn and later to manufacture fabric," Mohammad Abdullah Zaber, deputy managing director of Zaber and Zubair Fabrics Ltd, told the FE.
About 97 per cent of the country's polyester fabric is imported from China, he said, adding that the demand for such material is also high and growing day by day. Its price is also high.
The proposed unit with the production capacity of 120 million tonnes a day will be set up in Valuka, Mr Zaber said, adding that they have already selected the machines to be installed.
He was talking to the FE on the sidelines of a weeklong fabric show that began at the corporate office of the Noman Group at Gulshan in the city on Monday.
Zaber and Zubair (ZnZ) Fabrics, a sister concern of the group, organised the 'Mill Week' to display its latest collections - value-added and fashionable fabrics along with other items for the spring and summer seasons of 2019 - for global cloths and fabric buyers.
Last year, ZnZ also organised the 'Mill Week' on pilot basis and 150 buyers visited it, said Md Nurul Islam, founding chairman of Noman Group. He hoped that some 300 buyers would visit the fabric show this time.
Mill Week is a global standard concept for showcasing fabric/garment product lines for buyers. Mostly, global retailers and buyers are organising such event to select seasonal products from different suppliers, he explained.
"We participated in most of the renowned mill weeks globally with our design creations, where we have gathered vast knowledge about how to improve design innovation capacity," Mr Islam said.
The management then decided to initiate observance of mill week of Zaber and Zubair Fabrics, which would be an opportunity not only for the company but also for the country to brand its image globally, he added.
Responding to a question, he said scarcity of land and its high price is one of the major barriers to investment in the woven segment.
Moreover, gas supply is inadequate, he said, adding that the government should formulate energy policy for at least five years to help investors work out their business plans.
He, however, stressed that the manufacturers should focus on enhancing skills and productivity and upgrading technological solutions to be price competitive and sustain in the long run.
Subodh Talukder, general manager, business development, ZnZ, said the company is always ready to meet any requirements of the buyers.
Echoing the view, Mr Zaber said they are the only supplier in the country that can meet seven-day lead time.
The group produces 12 million yards of non-denim fabrics and 5.0 million yards of denim a month.
A total of 36 units are currently operating under the group and have created employment for some 80,000 workers.
The annual turnover of the 49-year-old textile group stood at $1.2 billion in the last fiscal year.
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