ADB funds Bangladesh polyester expansion

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Asian Development Bank loan aims to cut imported synthetic inputs while supporting lower-energy polyester-chip manufacturing

DHAKA — The Asian Development Bank (ADB) has signed a $50 million loan with Modern Syntex Limited (MSL) to expand lower energy polyester-chip production in Bangladesh.

The financing will almost quadruple MSL’s capacity from 107 tonnes to 407 tonnes per day, pay for energy-efficient machinery and refinance short-term local working-capital loans.

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