In an attempt to set up a first of its kind polyester staple fibre plant in Bangladesh, the Deshbandhu Group has joined hands with US-based technology and engineering solution provider, Chemtex Inc. Both firms signed a contract in Dhaka recently. The fibre, produced from synthetic chemical compounds, is so common to natural fibres in terms of strength and quality that it has been considered as a substitute for raw cotton.
Chairman of Deshbandhu Group, Golam Mostafa, says Chemtex will be their strategic partner for the project being set up with $100 million investment. The plant, located in Sirajganj district, is expected to start production in 24 months.
With a flourishing garment industry in the country demand for these fibres is on the rise. Therefore, the plant will largely serve the domestic market. The total production capacity of the unit will be about 400 tons polyester staple fibre a day. Currently, Bangladesh fulfils its polyester staple needs through imports. It imports about $480 million worth of fibre with a total demand of three lakh tons a year.