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Projet VSL
VSL is a certified textile spinning company in Bangladesh. It exports 100% of its production and needs to build a new factory and develop its range of products to meet the demand of its clients.
Client presentation
Viyellatex is a family-owned group operating in the garment industry in Bangladesh. The group was set up in 1996 from a clothing firm and has gradually developed. It now has 7 companies covering the entire value chain, from spinning to garment manufacturing. All the production is exported to large international brands, mainly in the USA and Europe. Viyellatex Spinning Limited (VSL) is the spinning entity set up in 2004. It has several certifications and accreditations (Cotton made in Africa, Organic Cotton, Cotton USA, Oeko-Tex) and is the only spinning company in Bangladesh certified FLO Fair Trade.
Project description
The project involves financing the construction of a new plant to allow VSL (i) to increase its production capacity and (ii) to extend its product range to yarn with higher added value, in line with demand from the major ready-to-wear brands.
Project impact
This project supports a key sector for the economy and the development of Bangladesh. It will replace yarn imports with local production, create some 1,200 direct jobs (with an impact on over 7,900 indirect jobs) and contribute to the development of the upstream sector, and more particularly the sustainable cotton yarn market. It also involves encouraging one of the country’s leading actors to continue its efforts in terms of environmental and social good practices and thereby contribute to improving standards in the sector.
Date of signature of the project
Financing tool
13 281 472 Euros
Amount of funding
Loan of USD 14 M
Financing details
Viyellatex Spinning Limited