Turkish textile giant Sanko has expressed interest in investing $300 million to establish an integrated textile manufacturing facility at Bangladesh’s Mirsharai Economic Zone. The investment could significantly strengthen the country’s textile and jute industries.

Commerce, Industries, and Textiles and Jute Minister Khandakar Abdul Muktadir discussed the proposal with a Sanko delegation at the Secretariat on 28 July.

During the meeting, Sanko representatives said the company wants to expand its production capacity in Bangladesh. The move aims to meet growing demand from international buyers. They also highlighted the company’s long-standing business ties with the country.

Although Sanko currently exports textile products from Turkey, it now sees Bangladesh as an attractive manufacturing destination. The delegation cited the country’s skilled workforce, export competitiveness and strong investment potential as key advantages.

The proposed facility will produce fabrics, process textiles and manufacture high-value-added textile products. It is also expected to strengthen Bangladesh’s readymade garment (RMG) and textile sectors.

According to the delegation, local production will help Sanko attract new international buyers to Bangladesh. It will also support domestic textile manufacturers through technology transfer, skills development and expanded market opportunities.

Sanko also confirmed that it has already identified a potential project site. The company has also held discussions with prospective partners.

Subject to regulatory approvals and infrastructure support, the company expects to move to the next phase of the project within the coming months. It aims to begin commercial operations 12 to 18 months after construction starts.

To facilitate the investment, Sanko requested government support for gas and electricity connections, reliable energy supply and other approvals. The company also stressed the importance of environmentally friendly technologies. It plans to use sustainable, coal-free energy solutions to meet international buyers’ environmental standards.

Minister Muktadir welcomed Sanko’s investment interest and assured the delegation of the government’s full support. He reiterated Bangladesh’s commitment to attracting foreign direct investment (FDI) and promoting industrial development.

Officials said the proposed investment could introduce advanced manufacturing technologies. They added that the project could create significant employment opportunities, strengthen Bangladesh’s export competitiveness and open a new chapter for the country’s textile and jute industries.

Source: The Business Standard