Xingchen Textile Co Ltd, a Chinese company, has signed a $35.03 million investment deal with the Bangladesh Export Processing Zones Authority (Bepza) to establish a textile recycling factory in Mongla EPZ. The factory will recycle scrap fabric, known as “jhut,” to produce 20,000 tonnes of yarn and 12,000 tonnes of woven fabrics annually, creating 600 jobs for Bangladeshis. This makes Xingchen the second Chinese investor in the Mongla EPZ’s textile recycling sector.
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