Turkiye's leading textile manufacturer Sanko plans to invest around $300 million in Bangladesh to establish an integrated textile manufacturing facility at the Mirsarai Economic Zone, officials said after a meeting with the government on Tuesday.

The investment proposal was discussed at the Secretariat during a meeting between Minister for Commerce, Industries, and Textiles and Jute Khandaker Abdul Muktadir and a Sanko delegation.

State Minister for Textiles and Jute Md Shariful Alam also attended the meeting.

The proposed facility will manufacture fabrics, process textiles and produce value-added textile products.

Sanko representatives said the company plans to expand its manufacturing presence in Bangladesh to meet growing demand from international buyers. Although it currently supplies textile products from Türkiye, it sees Bangladesh as an attractive production base because of its skilled workforce, export competitiveness and strong textile industry.

The company said it already works with several international buyers sourcing from Bangladesh and believes local production will help attract more global buyers while creating opportunities for technology transfer and market expansion.

Sanko has identified a potential site for the project and held preliminary discussions with prospective partners. Subject to the required approvals and infrastructure support, it expects to begin the next phase of the project within the coming months.

The company expects to launch the project within 12 to 18 months from the start of construction.

Sanko sought government support to ensure gas and electricity connections, energy facilities and the timely approval of the project. 

Muktadir assured the delegation of the government's support, saying Bangladesh is encouraging foreign investment in the industrial sector and working to facilitate investment.