Dhaka, Bangladesh (BBN) - A tripartite agreement is expected to be signed in the third week of November to reopen the Beximco Textile Division by December 2025, bringing back more than 25,000 workers with dignity and security.
Following the initiative of the Japanese-Bangladeshi ethical fashion and sustainability venture, Revival Group Co. Ltd. and Revival Projects Ltd. have confirmed that they will lease and restart the Beximco Textile Division.
The draft tripartite agreement among Revival Projects Ltd., Beximco, and Janata Bank was submitted on October 8, 2025.
The three parties have already finalized the draft, and the signing will take place once Janata Bank’s board clears the agreement. The board is scheduled to approve the draft on November 18, according to a senior Beximco Group official.
“We’re planning to sign a tripartite contract next week with the Japanese company Revival and Janata Bank,” the official said.
Senior leadership teams from Revival and its US-based financing partner Ecomilli are expected to arrive in Dhaka in the third week of November to attend the signing ceremony.
Supported by Ecomilli—founded by leading Non-Resident Bangladeshi (NRB) professionals—the initiative marks one of the most significant employment restoration efforts in the country’s recent history.
In the first phase, Revival and Ecomilli will deploy US$20 million in back-to-back LC support, with plans to expand to $100 million depending on factory performance and global demand. By 2027, Revival projects annual profits of BDT 5,000 million, enabling repayment of outstanding loans and ensuring long-term financial stability for one of the country’s largest textile brands.
The reopening aims to reverse the severe fallout that followed the closure of Beximco Textile, once a national engine of growth and resilience. The shutdown, triggered by loan defaults after more than three decades of operation, displaced thousands of workers, crippled surrounding small businesses, and created deep economic uncertainty for entire communities.
Revival’s move to take over the unit under a long-term lease brings renewed hope to families who lost not only employment but also the foundation of their livelihoods.
The Japanese-Bangladeshi identity of the company will be pivotal in the turnaround, with Japanese management systems and operational discipline being introduced through experienced C-suite leaders from Japan. Additionally, a global Big Four accounting firm will be appointed to ensure transparency and world-class governance, focused on efficiency, accountability, and worker welfare.
Beyond reopening the factory, the lease agreement reflects Revival’s broader vision for Bangladesh's textile and fashion industry. The company aims to reconnect Beximco Textile with its global buyers while forging new international partnerships. Its long-term ambition is to position Bangladesh not only as a reliable manufacturing hub but also as a center for innovation and brand creation.
The company’s philosophy—‘Design locally, sell globally’—highlights its commitment to elevating Bangladeshi fashion from mass-market garments to premium, design-driven global products, proudly carrying the label ‘Made in Bangladesh.’
BBN/SSR/AD