Envoy Textiles’ new spinning unit goes into operation

Envoy Textiles Limited yesterday said its new spinning unit has begun commercial production.

The unit, which has an annual yarn production capacity of 4,200 tonnes, went into commercial production on Saturday, according to a disclosure on the Dhaka Stock Exchange.

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In July 2021, the textile company said it planned to establish a spinning unit at its existing factory premises in Jamirdia, Bhaluka of Mymensingh with a production capacity of 3,710 tonnes cotton-polyester-spandex core-spun yarn per year.

The project was delayed a bit due to the delay in the shipment of machinery by the supplier caused by the Russia-Ukraine war, said the disclosure.

The cost of the expansion project was Tk 176.19 crore, according to a filing in July 2021.

Around 60 per cent to 70 per cent of the yarn to be manufactured in the new unit is expected to be consumed in-house for denim production while the remaining portion will be used as deemed export market.

Shares of Envoy Textiles were unchanged at Tk 43.90 on the DSE yesterday.