SIM Group to set up denim factory in Jamalpur with $17m initial investment 

Sim Fabrics Ltd, a subsidiary of Sim Group, will establish a denim manufacturing unit in the Jamalpur Economic Zone with an investment of approximately $17 million.

To formalise this venture, Sim Fabrics signed an agreement with the Bangladesh Economic Zones Authority (Beza) today (28 August) at the Beza office in the city. 

Under the agreement, Beza will allocate 5 acres of land in the economic zone to Sim Fabrics Ltd. 

Md Mozibor Rahman, executive member (Investment development) of Beza, and Md Mozaffar Hossain, managing director of Sim Fabrics, signed the agreement. Beza executive chairman Dr MD Sarwar Bari presided over the signing ceremony. 

According to a Beza press release, the new factory is expected to create employment opportunities for 250 people. The primary focus of the investment will be on setting up the denim manufacturing plant, alongside the construction of administrative buildings and other essential facilities on the allotted land.

Earlier, Sim Fabrics developed a composite industry including woven, towel, and textile on about 20 acres of land in Rupganj, Narayanganj, and 5,000 jobs have been created in the industry.

Sim Fabrics Managing Director Mozaffar Hossain said if all service-related facilities are confirmed, the company is eager to commence construction work promptly. 

In this, the company plans to transition from being solely a fabric manufacturer to becoming an exporter of a complete range of fashion products, he added.

Beza Executive Chairman Sarwar Bari expressed optimism, noting that the director of Sim Fabrics would "enrich the new venture with his experience."

 He also urged the company to begin its operations as soon as possible.

The Executive Chairman said "All facilities, including utilities, are being provided at the doorstep of investors" to create a self-sufficient economic zone in Jamalpur.

He added that the development of this region would bring the benefits of industrialization to people in remote areas.

According to sources, the Jamalpur Economic Zone will cover a total area of 436 acres. Upon successful implementation, the zone is expected to directly create employment opportunities for approximately 32,000 people. The feasibility study report indicates that the zone is suitable for various industries, including agro-based industries, light engineering, and garments.

Beza has signed land lease agreements with 20 firms in this economic zone so far.

Construction of a gas connection line, 33/11 KVA power substation, administrative and dormitory buildings, land development, a groundwater reservoir, and a boundary wall has already been completed in the area.