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Related Keywords: circular knitwear, covers spandex in textile and technical sectors, Fulgar, high quality yarn, hosiery and seamless clothing, leader in production of polyamide 6.6, melange yarn, printed fabric, production of fabric, visual effect

Fulgar operates worldwide in the synthetic yarns market and is a leader in the production and distribution of Polyamide 6.6 and covered spandex in the textile and technical sectors. According to Fulgar, it has achieved a significant development in the production of melange yarns for use in fashion and sportswear enabling the production of a fabric with a visual effect similar to that of printed fabric but with the performance offered by high-quality yarns.

Related Keywords: Asif Moyeen, Bangladesh textile industry, City Bank, Compact Yarn Manufacturing, Far East Spinning Industries Ltd, high quality yarn, IDLC Finance, readymade garments

The new venture, Far East Spinning Industries Ltd, will be the first company that will completely manufacture compact yarn in Bangladesh. As the company will be setting up a compact cotton yarn manufacturing plant on 40 bighas of land in Habiganj in the next one and a half years which will involve investment of the tune of approximate Tk150 crore.

Far East Spinning Industries, whose paid-up capital stands at Tk 45 crore, is sourcing finance through a syndicated loan of around Tk 100 crore from IDLC Finance and The City Bank.

Related Keywords: contract farming, cotton industry, high quality yarn, milling and spinning plant, new spring reels, Sino Zimbabwe cotton, venture into cotton farming, weaving plant

Sino Zimbabwe Cotton are currently in negotiations with a local company with an intention to purchase of at least 35 000 hectares of land because they are intending to venture into cotton farming. But Sino Zim is going to continue funding contract farming.

The company plans to increase cotton seed and lint output to 35 000 metric tonnes at its $17 million plant commissioned by President Robert Mugabe in December last year hence its decision to venture into cotton farming.