Dhaka, Bangladesh (BBN)- An Omani company, Muscat Thread Mills, has decided to set up a thread factory in Bangladesh having a production capacity of 5.0 tons a day.
Muscat Thread Mills announced via Muscat Securities Market website that its board of directors reviewed a feasibility study during the second week of this month and decided to go ahead with the project, according to reports.
The company said the returns of the project are expected to be 25 per cent in internal rating and that the factory will be based in Comilla Export Processing Zone in Bangladesh. The project is expected to take 12 months to be set up and commercial operations are scheduled to start in the first quarter of 2014, said the company.
BBN/SSR/SI-16Dse12-1:20 pm (BST)