DHAKA : Turkish textile giant Sanko Group has announced plans to invest US$300 million in setting up a modern integrated textile manufacturing facility at the Mirsarai industrial zone, marking one of the latest major foreign direct investments (FDI) in Bangladesh's textile sector.
The announcement came during a meeting with Commerce, Industries, and Textiles & Jute Minister Khandakar Abdul Muktadir at the Secretariat today.
State Minister for Textiles and Jute Md. Shariful Alam was also present.
During the meeting, the Sanko delegation said the company intends to shift from supplying textile products from Turkey to establishing a full-scale manufacturing base in Bangladesh to meet growing demand from international buyers.
The proposed integrated facility will manufacture fabrics, undertake advanced textile processing and produce high-value-added textile products aimed at global export markets.
The delegation said Bangladesh's skilled workforce, strong export capacity and favourable investment environment made the country an ideal destination for the investment.
Sanko officials said the project would help introduce advanced technologies, enhance local industrial capabilities and promote technology transfer, enabling domestic manufacturers to move towards higher-value textile production.
The company has already completed preliminary site selection and discussions with local partners. Construction is expected to be completed within 12 to 18 months after receiving the necessary government approvals, while operations are planned to begin within a few months of approval.
The delegation sought government support in ensuring uninterrupted gas and electricity supplies and faster regulatory clearances. It also pledged to adopt environment-friendly technologies and coal-free energy management to meet international sustainability standards.
The investment is expected to create significant employment opportunities, strengthen Bangladesh's export competitiveness and attract more international buyers seeking high-quality textile products.
Welcoming the proposal, Muktadir assured the investors of the government's full cooperation.
He said the government is committed to maintaining a business-friendly environment by providing the necessary infrastructure and policy support for large-scale foreign investments.
The minister described the investment as an important step towards modernising Bangladesh's textile and jute sectors through advanced technology, increased employment and greater export diversification.
