Bangladesh textile maker Maksons Group is investing US$111m to set up three industrial units that will allow it to expand production of garments for export.

Mohammad Ali Khokon, managing director of Maksons Group and its Metro Spinning Mills and Maksons Spinning Mills entities, signed a land-lease agreement with the Bangladesh Economic Zones Authority (BEZA) to establish the units on 30 acres of land by 2022.

Metro Spinning will invest $40m and create jobs for 1,200 people. Maksons Spinning Mills Ltd will invest $30m to create 800 jobs and the second unit of the factory will invest $41m, Khokon said, according to local reports.

Maksons Group, which has been in textile and spinning business for more than 35 years, exported goods worth $77m last year. 

It says that despite the impact of the Covid pandemic, it is eyeing US$100m in exports next year as the volume of export orders has grown at its factories, especially for knitwear items. 

When the proposed units are fully onstream, Maksons anticipates earnings of US$500m from export orders.