PRAN-RFL, Hamko lease three closed jute mills, to invest Tk619cr
Once operational under private management, the mills are expected to create at least 11,629 jobs, with an investment of around Tk619, says PM’s Deputy Press Secretary Hasan Shiplu.
The government today (11 August) signed lease agreements with two private business groups to reopen three long-closed state-owned jute mills, involving an investment of around Tk619 crore and an opportunity to create at least 11,629 jobs.
The agreements were signed between the Bangladesh Jute Mills Corporation (BJMC), PRAN-RFL Group and Hamko Group in the presence of Prime Minister Tarique Rahman at his office at the Secretariat, said PM's Deputy Press Secretary Hasan Shiplu.
Once operational under private management, the mills are expected to create at least 11,629 jobs, with an investment of around Tk619 crore and a combined potential annual turnover of about Tk1,175 crore, said Shiplu.
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Under the agreements, PRAN-RFL Group will take over National Jute Mills Ltd in Sirajganj and Star Jute Mills Ltd in Khulna, while Hamko Group will take over Platinum Jubilee Jute Mills Ltd in Khulna.
Investment and employment
National Jute Mills is expected to receive around Tk157 crore in investment. Once reopened, it is projected to create 5,238 jobs and generate annual turnover of around Tk500 crore.
Around Tk250 crore will be invested in Star Jute Mills, which is expected to create 5,238 jobs and generate annual turnover of around Tk500 crore after reopening.
Platinum Jubilee Jute Mills is set to receive around Tk212 crore in investment and is expected to create at least 1,153 jobs, with potential annual turnover of around Tk175 crore.
BJMC Chairman Brig Gen Md Kabir Uddin Sikder signed the agreements on behalf of the state-owned corporation. Aminur Rahman, group company secretary of PRAN-RFL Group, and ATM Mustafa, managing director of Hamko Group, signed the agreements on behalf of their respective companies.
Commerce, Industries and Textiles and Jute Minister Khandakar Abdul Muktadir and State Minister for Textiles and Jute Md Shariful Alam, among others, were present at the signing ceremony.
More mills to reopen
The government has decided to reopen 20 of the 25 mills under the BJMC that remain closed under lease-based private management.
So far, leases for 14 mills have been completed and possession handed over to the lessees, while production has already resumed at nine of them.
