An initiative has been taken to reopen BEXIMCO Group’s closed factories. To restart operations, Japanese company Revival is set to invest Tk 2.45 billion initially, with US-based firm Ecomili partnering in the process.

The government has approved their joint investment plan to reopen the factories. What now remains is a tripartite agreement between Revival, Janata Bank, and BEXIMCO, according to the Ministry of Labour and Employment.

BEXIMCO’s major international buyers include Zara, Marks & Spencer, Target, American Eagle, Pull & Bear, and Bestseller.

Due to strong demand from these brands, efforts are underway to relaunch the 15-factory BEXIMCO Textiles Division, which shut down after the August’s political transition last year.

Revival Project Ltd. and US e-commerce company Ecomili plan to invest US $20 million to reopen them. A written proposal has already been submitted to the Labour and Employment Ministry in this regard.