To boost the company’s production capacity by 4,550 tons annually, Bangladesh-based textile manufacturer Envoy Textiles plans to set up a new spinning unit with an investment of Tk97 crore. Slated to complete by Dec’25, the expansion will help the company meet the rising demand for cotton-polyester-spandex core-spun yarn.

The new unit will feature advanced ring spinning production facilities with machinery sourced from Europe and Japan. Approximately 60 per cent of the yarn produced in this expanded facility will be used to produce denims while the remaining 40 per cent will be designated for exports.

Tanvir Ahmed, Managing Director. Envoy Textiles, states. the new spinning unit will more than double the company’s blended yarn capacity from 4,380 tons per year (12 tons per day) to 9,125 tons per year (25 tons per day).

For Q1, FY25 spanning July-Sep’24, Envoy Textiles increased its profit by 134 per cent Y-o-Y. The company’s net profits rose to Tk25.33 crore, up from Tk10.82 crore in the same period last year. The company’s revenues also increased by 40 per cent to Tk439.94 crore during the quarter.