Noman Group, which is the first Bangladeshi textile and garment manufacturing company to cross the $1 bn mark in exports, plans to spend Tk1,300cr on a massive expansion programme to meet growing demand from Western buyers. Noman Group Executive Director Mohammed Shahidullah Chowdhury, said that the group will invest Tk1,300cr to establish a state-of-the-art spinning mill named Nice Spun Mills on 110 bighas of land at Maona in Gazipur.
The mill has a target to produce 124 tonnes of yarn for both knitwear and fabrics in a day. The plant structure has already been built and the machinery will shortly be installed, he said, adding that he expects production to begin within the next one-and-a-half years.
The new mill comes mainly to meet the daily requirements of Noman’s different units, he said, adding that the group has a total of 27 textile as well as garment units which mainly produce yarns, fabrics, home textile, bed covers, curtain, comforters, quilt covers and towels. The group has always had a focus on the European Union and US markets, but recently it has been looking at emerging Asian and Latin American markets like Japan, Russia, China, India, Brazil and Chile.
The company’s towels are doing particularly well at the market, which is primed to be the next big destination for the country’s garment products. The group, which achieved the milestone of $1 bn export earnings in fiscal 2012-13, has the target to establish seven new units over next five years to take the value of its exports to $1.8 bn during the time.