Square Group, Bangladesh’s leading conglomerate, will be investing in its group company Square Textiles to expand its spinning capacity.
In 2018, Square Textiles had expanded its capacity to produce 4,500 tons of yarns annually, which is expected to earn Taka 100 crores this year. 2019 too may see the firm enhance the annual production capacity of 3,000 tons (yarn production and fibre dyeing), which is further expected to generate Taka 72 crores annually.
The spinning sector, which is integral to any textile and garment value chain for stabilising supply chain and controlling costs, has been the forte of Square Textiles. With an experience of over 20 years in the yarn spinning industry, the company is today counted among one of the largest knitting and weaving yarn manufacturers in Bangladesh.
The private spinning mills can now cater to about 100 per cent demand for yarn at the domestic level as well as 95 per cent of demand for yarn for export. With a production efficiency of 96.2 per cent, Square Textiles is today committed to creating more sustainable and eco-friendly products.