Maksons to set up three tex units at Misarai at $112m

Maksons Group, a local textile giant, plans to spend an estimated $112 million in setting up three new textile units at the Bangabandhu Sheikh Mujib Shilpa Nagar at Mirsarai under Chattogram.

The export-oriented industries-Metro Spinning Ltd, Maksons Spinning Mills Ltd and Maksons Spinning Mills Ltd Unit 02-will be set up in an area spreading over 30 acres of land.

The industrial units are expected to create an estimated 4,000 jobs directly and indirectly.

Maksons Group signed three separate land lease agreements with the Bangladesh Economic Zones Authority (BEZA) at a programme at a city hotel on Monday.

BEZA executive member Abdul Mannan, Metro Spinning managing director Md Showkot Ali and Maksons Spinning Mills managing director Md Ali Khokon inked the deals on behalf of their respective sides.

BEZA executive chairman Paban Chowdhury and executive member Md Harunur Rashid, among others, were present at the signing ceremony.

As per the agreements, the proposed units will manufacture different categories of value-added yarn, fabric and chemicals.

At the programme, Mr Chowdhury said Bangladesh has become a role model for creating an investment-friendly atmosphere through establishing economic zones.

Despite coronavirus pandemic, many investors have expressed their keen interest to make investment in mills and factories here, he added.

"We're cancelling many investment proposals due to a shortage of sufficient land," the BEZA executive chair cited.

Mr Khokon, also president of Bangladesh Textile Mills Association, said the three units will spend more than $100 million on producing value-added yarn and fabric.

Textile goods worth an estimated $100-150 million will be exported annually, he added.

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