Envoy Textiles Limited Decides to Set Up Spinning Project Expansion Unit At Existing Factory Premises in Jamirdia, Bhaluka, Mymensingh
July 15, 2021 at 11:03 am
Share
Envoy Textiles Limited announced that the Board of Directors has decided to set up spinning project expansion unit at existing factory premises in Jamirdia, Bhaluka, Mymensingh having a capacity of 3,710 MT cotton-polyester-spandex core-spun yarn production per year with an estimated total cost of BDT 1,761.90 million. Out of the total estimated cost of the project, BDT 561.90 million to be invested from the Company's retained earnings and remaining of BDT 1,200 million to be financed by bank borrowings. The debt-equity ratio is considered at nearly 32:68 98% of capacity assumed to be utilized. A production of around 60 to 70% to be consumed in-house for the denim production, and remaining is for deemed export market. The project is expected at a pay back of investment by 7 years. The project is scheduled to be completed by July 2022, subject to a usual business & health environment condition.
Envoy Textiles Limited is a Bangladesh-based company, which is engaged in the manufacture of export-oriented denim fabric. The Company produces denim products featuring a range of yarns and weaves in various shades of indigo and black, among others. The Company specializes in 4.5 ounces to 16.00 ounces ring and open-end denim. The Company's product range consists of Stretch denim fabric, Right hand twill denim, Light weight denim fabric, Flat denim, Ecru denim, Over dyed denim fabric, Yarn dyed colored denim, Flat/mercerized denim, Indigo dyed denim fabric, Ring-spun denim effect fabric, Left hand twill denim, Medium weight denim fabric, Heavy Weight denim fabric, Natural denim, Classic denim fabric, Cross-hatch denim fabric, Slubby effect denim fabric and Coated denim, among others. The Companyâs factory is located in Bhaluka, Mymensingh, Bangladesh.