The New Nation - Internet Edition

Chaity Group, a leading textile and garments manufacturing industry of the country has set up a composite textile unit at Sonargaon under the Narayanganj district.

The unit named as Chaity Composite Ltd built at the cost of Tk 200 crore was inaugurated by Managing Director of South-East Bank Neaz Ahmed in presence of foreign and local dignitaries on Thursday, said a press release.

Equipped with most modern European machinery, the textile unit has a production capacity of 40 tons per day.

The unit will produce fabrics of world class quality both for local and foreign markets and save a huge amount of hard- earned foreign currencies against import of fabrics every year, officials of Chaity group said.

In his speech, Neaz Ahmed said the launching of Chaity Composite Textile is a miles stone in the country's fast-growing textile sector.

"This will reduce dependency on foreign fabrics and save a huge amount of foreign currencies every year", he said.

Abul Kalam, Managing Director of the Chaity Group said Bangladesh is now competing in the world textile markets.

To face the challenge, it needs more such modern textile units that can produce international quality fabrics.

Later, the group celebrated its 18th founding anniversary through various programmes.