BTMC leases two closed mills to private hands 

The Bangladesh Textile Mills Corporation (BTMC) has leased two mills, which had been closed down, to the private sector for 30-year periods each. 

Valika Woolen Mills in Chattogram has been leased by Loyal Tex Limited and Sylhet Textile Mills has been leased by Fast Icon Limited.

The companies will get the opportunity for renewal on the basis of satisfactory performance.

The BTMC handed over the mills in a ceremony at a five-star hotel in the capital on Sunday (10 November).

Speaking as chief guest, Textiles and Jute and Shipping Adviser Brigadier General (Retd) Dr M Sakhawat Hossain said if necessary, the lessees can set up a new infrastructure.

"We are not running any mills from the government. These mills were closed for a long time. We have more mills ready for investment. Any organisation can take lease on the public-private partnership (PPP) model or long term renewable lease system. Now is a good time to invest. Now you don't have to pay bribes to invest," he told the event. 

Also present at the event, Chairman of the BTMC Brigadier General Md Ziaul Haque said currently there are 25 mills under the company, two of which were granted leases today. 

He said the BTMC had no income from the mills as they were closed. 

"We expect rapid investment here. And there will be employment," he added. 

On the occasion, Managing Director of Loyal Tex Limited, Mirza Md Jamshed Ali said, "We will set up an environment-friendly textile factory here. There will be around 2,500 jobs."

Chairman of Fast Icon Ltd Md Iftekhar Uddin Chowdhury said, "We will build a modern plastic factory here."

Textile and Jute Ministry Secretary Abdur Rouf attended as special guest on the occasion.