Bangladesh’s Paramount Textile invests in power to diversify business: Reports – EQ Mag Pro
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Paramount Textile PLC, which is a listed company and belongs to the Paramount Group — Paramount Textile is one of the leading fabric manufacturers in Bangladesh and produces high-quality woven fabrics which include 100 per cent cotton yarn-dyed fabrics, cotton solid white fabrics, striped and check shirts and stretch fabric — has decided to invest in a solar plant by acquiring a 49 per cent stake in Dynamic Sun Energy Private Ltd.
Media reports maintained this adding, the company was doing the same to diversify business.
Reports further added Shapoorji Pallonji Infrastructure Capital Company Pvt Ltd. (SP Infra), a subsidiary of India-based Shapoorji Pallonji Group, has an investment in Dynamic Sun Energy even if the two companies together will build a solar plant to supply electricity to the national grid and Paramount Textile will invest in the plant from its own sources and bank finance.
Paramount Textile is said to have already invested in two more power plants, which have already started production.
Source: PTI
