July 15, 2024
Industry

Closed Bangla Jute Mills Will Be Converted In To Textile Units

Bangladesh Jute Mill Corporation (BJMC) will now allow even textile mills and factories to be set up in the state owned jute mills which were closed down a few years ago due to mounting losses.

The Bangladesh government had shutdown 25 state owned jute mills in one stroke due to recurring losses. Since then, BJMC has been struggling to lease the jute mills to private entrepreneurs to revive these mills.

The initial tender terms stipulated that only jute or jute products could be produced in these units as well as there were a few terms and conditions which did not interest private companies

In the last six years since the BJMC closed down these jute mills, it has been able to lease out only nine mills to interested entrepreneurs to produce jute or jute products.

BJMC has also increased the lease term by 10 years to 30 years and even the existing private entrepreneurs who have revived these jute mills can produce textile products.

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