The Beximco Textiles Limited are now set to reopen their factories after a long time. This is going to happen because of a tripartite lease agreement involving Japanese firm Revival Project Limited, Janata Bank and Beximco Group.
Labor Ministry sources Informed that initiative has received policy support from the Bangladesh government, which revives one of the country’s largest textile operations, while simultaneously creating jobs for about 25,000 workers.
The insider news also reveals that Revival Project Limited will initially arrange a $20 million back-to-back LC from a foreign bank, which will provide capital to Beximco Textiles to fulfill a purchase order from global apparel giant Inditex.
Beximco Textiles Limited core Managing Director Osman Kaiser Chowdhury officially approved Revival proposal and said that after nearly 10 months of exhausting efforts, they are moving towards launching their factory.
Beximco Textiles Limited, which consists of about 15 factories, is owned by Salman F. Rahman, the private sector advisor to Prime Minister Hasina, who fell in the popular uprising and is currently in prison.
The Chairmanship of labor secretary AHM Shafiquzzaman organized an invitation meeting on July 22 where officials from Bangladesh bank, Bangladesh Investment Development Authority (BIDA), Revival Project Limited, Janata Bank officials and Beximco Group members were present. At that meeting it was decided to reopen The Beximco Textiles Limited by tripartite lease agreement.
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