With an objective to capture greater share of the growing domestic market consequent to increase in the demand for garment raw materials, spinners in Bangladesh are going for expansion, setting up new units and expanding existing production capacities, resulting in massive investments.
Media reports maintained this while adding that three new spinning mills are all set to start operation within the next two years, while some of the existing textile mills are expanding their capacities to meet the growing demand and as such, the industry will now be able to process 16 million bales of cotton within the next two years, as per the Bangladesh Textile Mills Association (BTMA) Chief Executive Officer (CEO) Monsoor Ahmed, who further underlined the addition of the new spinning capacity will raise the investment in the primary textile sector to nearly US $ 11 billion from US $ 10 billion even as of the investment, 75 per cent is in the spinning segment, while the remaining 25 per cent is divided amongst the dyeing, weaving, finishing and sizing segments.
…we get a lot of queries from the local garment sector for yarn and fabrics, and so BTMA members are investing a lot towards increasing production of the raw material, further added the BTMA CEO even as reports citing BTMA data underlined currently local spinners have a combined capacity to process 13.43 million bales of cotton each year, but due to various drawbacks, they are unable to run at full steam and, as a result, the mills currently manage to make use of around 8.5 million bales of cotton annually.