Square Textile will invest around Tk 300 crore
Listed textile company Square Textile Yarn has decided to increase production. The company will invest Rs 348 crore for this.
Dhaka Stock Exchange (DSE) sources said.
According to sources, the company wants to increase production of 11,575 tonnes of yarn a year. The company expects a turnover of Rs 361 crore a year and a profit of 5-6 per cent of the turnover.
The company further said that the work of the new project of the company will be completed in April 2023.
Incidentally, the company has declared a cash dividend of 20% for the year ended June 30, 2021.