The Asian Development Bank (ADB) has signed a 50-million-dollar loan agreement with Modern Syntex Limited (MSL) to expand energy-efficient polyester chips production in Bangladesh.

 

Under the Modern Energy-Efficient Polyester Chips Manufacturing Project, MSL will increase its polyester chips production capacity from 107 tonnes to 407 tonnes per day. The project will also refinance short-term local working capital loans.

 

The expanded facility in the Mirsarai Economic Zone in Chattogram will produce high intrinsic viscosity polyester chips used in higher-value textile and apparel products.

 

ADB said the project will help strengthen Bangladesh’s textile value chain by increasing domestic production of polyester chips and reducing dependence on imported synthetic inputs. It is also expected to shorten supply-chain lead times and improve efficiency for textile manufacturers.

 

The project will introduce energy-efficient machinery, saving an estimated 4,840 megawatt-hours of electricity and reducing around 2,222 tonnes of carbon dioxide equivalent emissions annually.

 

The project is expected to create new jobs, with measures to promote greater participation of women through inclusive recruitment practices.