3 closed Jute mills leased out to create 11,629 Jobs

The government has leased out three long-closed state-owned jute mills to two private companies to resume their operations.

The lease agreement was signed between the Bangladesh Jute Mills Corporation (BJMC) and private conglomerates Pran-RFL Group and Hamko Group in the presence of Prime Minister Tarique Rahman on Tuesday.

Deputy Press Secretary to the Prime Minister Hasan Shiplu said the signing ceremony took place at the Cabinet Division conference room in the Bangladesh Secretariat.

Under the agreement, Pran-RFL Group took the lease of Jatia Jute Mills Limited in Sirajganj and Star Jute Mills Limited in Khulna. Hamko Group leased Platinum Jubilee Jute Mills Limited in Khulna.

BJMC Chairman Brigadier General Md Kabir Uddin Sikder signed the agreement on behalf of the corporation. Company Secretary Aminur Rahman signed for Pran-RFL Group, while Managing Director A T M Mostafa signed for Hamko Group.

The Deputy Press Secretary noted that the three long-shut mills will reopen under private management. The revival of these mills will generate at least 11,629 jobs. Private investors will pour around Tk 619 crore into the mills, expecting a total annual turnover of nearly Tk 1,175 crore.

At the ceremony, officials disclosed that Pran-RFL Group plans to invest around Tk 157 crore in Jatia Jute Mills in Raipur, Sirajganj. The mill will employ 5,238 people and targets an annual turnover of Tk 500 crore.

Pran-RFL Group will also invest Tk 250 crore in Star Jute Mills in Dighalia, Khulna. The operation will create 5,238 jobs, with a target annual turnover of Tk 500 crore.

Meanwhile, Hamko Group plans to invest around Tk 212 crore in Platinum Jubilee Jute Mills in Khalishpur, Khulna. The plant will create at least 1,153 jobs and generate an estimated annual turnover of Tk 175 crore.

It was also revealed that out of 25 closed BJMC mills, the government decided to lease out 20 to the private sector. So far, lease agreements for 14 mills have been finalized and handed over to lessee operators, with nine already resuming production.

Commerce, Industry, and Textiles and Jute Minister Khandoker Abdul Muktadir, State Minister for Textiles and Jute Shariful Alam, Textiles and Jute Secretary Sharaf Uddin Ahmed Chowdhury, and senior officials from BJMC and the lessee companies were present at the event.

-SA