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ADB and Modern Syntex sign $50 million loan agreement to boost polyester chips production in Bangladesh.

Oct 01, 2026

Contract Type

agreement

BangladeshManufacturingFashion

Description

The Asian Development Bank (ADB) has entered into a loan agreement with Modern Syntex Limited (MSL) for $50 million to enhance polyester chips production. This agreement will enable MSL to expand its production capacity and implement energy-efficient machinery, contributing to local supply chain strengthening and job creation.

Company Information

Company

Modern Syntex Limited

Location

Bangladesh

About

Modern Syntex Limited (MSL) is a manufacturer of polyester chips used in textiles and apparel. The company focuses on expanding its production capacity to meet increasing domestic demand. MSL aims to implement energy-efficient processes and promote sustainable practices in the textile industry.

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