Sanko, the Turkish giant holding that owns various companies including Isko and Re&Up, has expressed interest in investing US$300 million to establish an integrated textile manufacturing facility in Bangladesh’s Mirsharai economic zone givng a significant boost for the country’s textile and jute industries.

The investment proposal was discussed at a meeting in 28 July between Khandakar Abdul Muktadir, minister of commerce, industries, and textiles and jute, and a Sanko delegation at the Secretariat, according to local newspaper The Business Standard.

With this new step Sanko plans to expand its production capacity in Bangladesh in response to growing demand from international buyers and its existing business with the country,

As the company is currently exporting textile products from Turkey, it now sees Bangladesh’s skilled workforce, export competitiveness and investment potential as strong incentives for local manufacturing.

The proposed facility would produce fabrics, process textiles and manufacture high-value-added textile products, helping strengthen Bangladesh’s readymade garment and textile sectors.

The delegation said local production would enable the company to bring new international buyers to Bangladesh while supporting domestic textile manufacturers through technology transfer, skills development and market expansion.

Subject to regulatory approvals and infrastructure support, the company expects to begin the next phase of the project within the coming months, with commercial operations targeted 12 to 18 months after construction begins, its representatives added.

The company also sought government support in ensuring gas and electricity connections, energy supply and other necessary approvals. 

It emphasised the importance of environmentally friendly technologies and sustainable, coal-free energy solutions to meet international buyers’ environmental standards.