February 14, 2018: “textile village”, ADB funding and power supply deal

Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed.

Government to set up “textile village” under BTMC

The government is going to set up a “textile village” on 28 acres of land belonging to Tangail Cotton Mills under Bangladesh Textile Mills Corporation (BTMC) through a public-private partnership (PPP) initiative. The cabinet committee on economic affairs recently approved a proposal from Ramisa Group to develop the village at Mirzapur in Tangail at an estimated cost of about Tk 1,200 crore. Now the ministry will invite competitive bidding where Ramisa group will have to participate.

 

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ADB funds for improvements to Bangladesh textile sector

The Asian Development Bank (ADB) has signed an agreement with Eastern Bank Ltd (EBL) to provide a $20 million loan to help improve standards and quality in Bangladesh’s textile and garment sector. The loan will be used to finance socially and environmentally sustainable projects, specifically, the construction or expansion of factories meeting structural, fire and electrical safety standards.

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Indian company to supply 300-megawatt power to Bangladesh from June

Indian state-owned cross-border power trading arm National Thermal Power Corporation Ltd has won a contract for supplying 300 megawatts electricity to Bangladesh for 15 years. Bangladesh Power Development Board had invited a tender from India under short term basis from June 2018 to December 2018 and long-term between January 2020 and May 2033 where four companies – NVVN, Adani, PTC India and Sembcorp – had submitted their bids. The supply of power is likely to begin from June 2018 after the commissioning of the 500 MW High Voltage Direct Current (HVDC) inter-connection between India and Bangladesh.

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