Germany’s Multiline to invest $200m to set up textile factories
DHAKA, Oct 4 (BSS) – Multiline Textil GmbH, a leading German company, will invest 200 million US dollars to set up textile factories in Gazipur, Commerce Minister Lt Col (retd) Faruk Khan said here today.
“Germany’s multiline plans to invest US$200m to set up textile factories in Bangladesh,” Khan said while talking to reporters over the outcome of his recent visit to Germany at his Secretariat office here.
The commerce minister had a visit to Germany to attend the Show, ‘Branding Bangladesh’, organized by Bangladesh German Chamber of Commerce and Industry (BGCCI).
Khan said upcoming state-of-the-art knit composite manufacturing facility will have 14 factory halls employing more than 10,000 workers, once it goes into production.
This will be one of the world’s largest textile factories and will be five times bigger than its nearest local units.
The factory will have all the forward and backward linkages – – spinning, weaving, dyeing and washing and sewing in one compound.
It will follow social and environment compliance strictly, implementing strict Eco-Tex 100 guidelines and set up a big effluent treatment plant.
Germany is Bangladesh’s second largest export destination after the US. Bangladesh exports knit and woven garments, home textiles, jute and jute goods, leather goods and frozen items and medicines to Germany.
Bangladesh exported goods worth US$3438.70 million to Germany during 2011-12 fiscal against its import of US$691.30m during the period.