Square Textile, which is a part of the Square Group — founded in 1958 by Samson H. Chowdhury and three friends as a pharmaceutical company (Square Pharmaceuticals), Square Group is a Bangladeshi diversified conglomerate based in Dhaka which has around 60,000 employees — is all set to invest Taka 376 crore to enhance its yarn production capacity even as the company expects the new project will produce 11,565 tonnes per annum, which will add around Taka 371 crore to the company’s turnover.
Media reports maintained this while adding, the new project which will complete in April 2023, is aimed at meeting the growing demand of the country’s textile abroad, citing a concerned company official in this regard.
…most of the large companies are investing in this business to grab the opportunities, reportedly, underlined a senior officer at Square Textile while adding Square is investing more to grab the market stake.
Another firm of the Square Group, namely Square Pharmaceuticals, is, reportedly, set to invest Taka 300 crore separately which makes a total combined investment of around Taka 676 crore by the two entities, to boost their production capacities.
