Bangladeshi company Adnan Fibre Limited is all set to establish a backward linkage industry in recycling locally collected waste plastic bottles into polyester staple fibre (PSF) at Ishwardi Export Processing Zone (IEPZ).
Bangladesh Export Processing Zones Authority (BEPZA) and Adnan Fibre Limited on Sunday signed an agreement to this effect at BEPZA Complex in Dhaka, BSS reported citing a press release.
The company will invest $20.66 million to produce 25,000 tonnes of PSF per annum.
BEPZA Member (Investment Promotion) Ali Reza Mazid and of Adnan Fibre Managing Director KH Adnan Mehmood signed the agreement on behalf of their respective organisations. BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.
PSF, which is manufactured from pre and post-consumer polyethylene terephthalate (PET) bottle scrap, is used in the manufacture of textiles (T-shirts, body warmers), functional textiles (non-woven air filter fabric, geo textiles, carpets, car upholstery) and fillings (for pillows, duvets, toys).
The company will produce PSF from the PET Flex (PET Bottle) which will be collected locally. This will ultimately help to prevent environmental pollution.
It is the first such type of factory in IEPZ and will be the second in EPZs under BEPZA. A total of 514 Bangladeshi nationals will get employment opportunities in this factory, the press release added.
Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Administration) Md Zakir Hossain Chowdhury, Executive Director (Public Relations) Nazma Binte Alamgir and Executive Director (Enterprise Services) Md Khorshid Alam and Executive Director (Security) Lt Col ASM Quamruzzaman, and PBGM of BEPZA were present during the signing.
