According to ADB, the proposed project involves funding the purchase and installation of spinning machinery and associated equipment for Envoy Textiles Limited's second spinning unit. The new unit will have an annual yarn production capacity of 3,600 tons which will be mainly used for in-house consumption. The borrower has its factory in Jamirdia, which is about 71 kilometers north of Dhaka.
The project supports the backward integration of ETL through the expansion of its yarn production capacity for manufacturing denim fabric. The project will reduce energy consumption by introducing new and efficient machinery and equipment and will qualify as climate mitigation finance. The project will also support gender inclusion by promoting gender equality through a gender action plan.
ETL is the leading denim fabric manufacturer in Bangladesh with an annual production capacity of 52 million yards, representing about 10% of the country’s total denim fabric capacity. The primary activity of the company is the production of denim fabrics of various colors, qualities, fashions, styles, and weights. Most of ETL’s sales are either direct exports or sales to domestic ready-made garment (RMG) manufacturers, who in turn export their finished products, hence those sales are considered deemed exports. ETL is the world’s first certified platinum Leadership in Energy and Environmental Design denim manufacturing facility by the United States Green Building Council.
|Responsible ADB Department||Private Sector Operations Department|
|Responsible ADB Division||Infrastructure Finance Division 1|
|Responsible ADB Officer||Oishi, Yohei|
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