STAR BUSINESS REPORT

The government is set to lease out six state-owned jute mills by December this year in a bid to revive idle industrial units, attract fresh investment, and create employment opportunities.

Each of the six mills is expected to create more than 1,000 jobs, with projected investments ranging from Tk 200 crore to Tk 500 crore per mill, said Khandakar Abdul Muktadir, minister for textiles and jute, while briefing reporters after an emergency stakeholder meeting at his office in Dhaka yesterday.

“The meeting was convened to review the current condition of the closed mills, assess investment prospects, and explore ways to expedite investment in the remaining units,” he said.

The minister added that several mills already handed over to private operators have shown encouraging progress, attracting substantial investment and generating employment.

“Our plan is to gradually bring all mills under the ministry back into productive use -- some through jute-based operations, others through diversified industrial activities,” said Muktadir, who is also minister for commerce and industries.

The initiative will help boost export earnings and support import substitution, the minister added.

Shariful Alam, state minister for the same ministry, said the government is working to accelerate the revival process based on field-level assessments.

“We are inspecting mills and taking prompt decisions to ensure these industrial assets become economically viable again,” he said.

The mills fall under the Bangladesh Jute Mills Corporation, which shut down operations at 25 mills in 2020. Out of those, 20 mills were selected for leasing.

The ministry has already handed over 14 such mills to private investors. Officials said nine of them have resumed production, creating around 9,500 jobs.

Ashik Chowdhury, executive chairman of the Bangladesh Investment Development Authority, was also present at the meeting, along with senior officials from the Ministry of Textiles and Jute and representatives of investors.