Textile Dyeing Mill

ML Dyeing Limited, a listed yarn dyeing of Far Group, will found out a factory in Gazipur to start out its spinning business. the corporate will invest Tk62.58 crores for the business expansion. The new plant is predicted to start out operations in May this year. Currently, ML Dyeing is engaged within the dyeing business of yarns for export-oriented sweater companies.

AKM Atiqur Rahman, company secretary of ML Dyeing, said “We have already imported machinery for the new plant. Despite the countrywide lockdown, we hope that the new plant will start operations in May this year.”

The company sources said the new plant’s production capacity are going to be 16,500 kg yarn per day. The annual turnover of this plant are going to be Tk78 crore and net income Tk12 crore. ML Dyeing entered the stock exchange in 2018. it had been the third company of Far Group to be listed within the stock exchange . the opposite two companies are RN Spinning and much Chemical Industries.

Of those, the assembly of RN Spinning was suspended following a fireplace incident – that happened in April 2019 – at the company’s factory. the hearth damaged the factory and inventories worth over Tk600 crore and therefore the company remains handling the insurer for compensation. the corporate was listed on the Dhaka stock market (DSE) in 2010, and has grown to a Tk392 crore enterprise in terms of paid-up capital through bonus and right shares issuance.