The Asian Development Bank (ADB) has signed a $50 million loan agreement with Modern Syntex Limited (MSL) to support the expansion of polyester chip manufacturing in Bangladesh. The Modern Energy-Efficient Polyester Chips Manufacturing Project will increase MSL’s production capacity from 107 tonnes to 407 tonnes per day, while also refinancing short-term local working capital loans.

The project will introduce energy-efficient manufacturing equipment expected to save approximately 4,840 megawatt-hours of electricity and reduce around 2,222 tonnes of carbon dioxide equivalent emissions annually. The expanded facility will manufacture high-intrinsic-viscosity polyester chips used in higher-value textile and apparel products.

MSL will also pursue LEED Platinum certification for its factory and building. The investment is expected to strengthen domestic supply of polyester chips, reduce reliance on imported synthetic inputs, shorten lead times and improve supply-chain efficiency for textile manufacturers.

Located in the Mirsarai Economic Zone in Chattogram, MSL operates Bangladesh’s first continuous polymerisation facility and manufactures polyester chips, synthetic yarn and fibre primarily for domestic textile producers. The project is expected to create around 100 new jobs and promote greater participation of women through inclusive recruitment practices.