Desk Report

ML Dyeing Confined, a listed yarn dyeing of Much Group, will set up a manufacturing unit in Gazipur to start off its spinning enterprise. The business will devote Tk62.58 crores for the business growth. The new plant is predicted to start functions in Might this calendar year. At the moment, ML Dyeing is engaged in the dyeing business enterprise of yarns for export-oriented sweater providers.

AKM Atiqur Rahman, organization secretary of ML Dyeing, reported “We have by now imported machinery for the new plant. Irrespective of the countrywide lockdown, we hope that the new plant will start functions in Could this calendar year.”

The company sources said the new plant’s generation capability will be 16,500 kg yarn per working day. The once-a-year turnover of this plant will be Tk78 crore and net profit Tk12 crore. ML Dyeing entered the stock current market in 2018. It was the third corporation of Far Team to be listed in the inventory sector. The other two corporations are RN Spinning and Far Chemical Industries.

Of those, the production of RN Spinning was suspended next a hearth incident – that took place in April 2019 – at the company’s manufacturing facility. The fire ruined the manufacturing facility and inventories well worth in excess of Tk600 crore and the organization is continue to working with the insurance provider for payment. The firm was shown on the Dhaka Stock Trade (DSE) in 2010, and has developed to a Tk392 crore business in terms of compensated-up capital as a result of bonus and suitable shares issuance.