Giant Textiles to go for commercial production next month

Special Correspondent A new company -Giant Textiles Ltd- will go for commercial production next month in Gazipur. " It is now running on trial operation with completely state-of-the-art technology. Once started, the new unit will raise our export value to $ 60 million a year from the existing $ 20 million, Faruque Hassan , Managing Director of Giant Group told the FE. Eastern Bank Ltd arranged the syndicated term loan of Tk 570 million for the new unit of Giant Group. Other participating banks in the syndication are Bank Asia, The City Bank, IFIC Bank, United Commercial Bank, Trust Bank and AB Bank. Total cost for the new project is Tk 1.0 billion. " With total dyeing capacity of 18 tons, knitting capacity of 15 tons per day and an exclusive but comprehensive 20 lines of knit garments, our new unit will be an 'inspiring company' for others," Mr Faruque said. He said the new unit will be more environment-friendly and energy-saving than the factories the company had set up earlier. The concept of 'green building' mainly focuses on environmental issues and energy efficiency. With proper ETP installations, it will be a 'model company' as far as 'green economy' is concerned, he added. Giant Group, a conglomerate of 13 companies including eight woven and knit establishments, has an annual turnover of more than $20 million. Beginning with garment manufacturing units in mid-eighties, today, the Giant Group has emerged as one of the biggest and thriving conglomerates in Bangladesh. "We have proved that we are capable to manufacture state of the art products, so our government should facilitate the growth of the sector helping to ensure smooth infrastructure and adequate supply of gas and power," Mr Faruque, also the vice president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said. The Government also needs enhancing the capacity of Chittagong port and its efficiency along with reducing the usage of port charges. "I also demand a dedicated line for cargoes in road and railway to ensure the smooth delivery of export-oriented RMG products," Mr Faruque added.