PROJECT

Projects

Summary of Investment Information

Project Number

32376

Company Name

ANANTA APPARELS LTD.

Date SPI Disclosed

Nov 12, 2012

Country

Bangladesh

Region

South Asia

Projected Board Date

Dec 14, 2012

Environmental Category

B - Limited

Status

Active

Last Updated Date

Nov 30, 2016

Department

Gbl Ind, Manufact, Agribus & Services

Industry

Manufacturing

Previous Events

Approved : Mar 1, 2013
Signed : Mar 28, 2013
Invested : Oct 17, 2013

Sector

Garment and Apparel (Without Fabric , Excluding Footwear)

Project Description

Founded in 1992, Ananta Apparels Limited (“AAL” or the “Company”) is one of the leading apparel exporters of Bangladesh (top 10 position among woven product manufacturers). The Company specializes in denim products with monthly production capacity of 1.8 million woven bottoms across three factories comprising 850,000 square feet and employing about 13,000 workers. AAL recently re-structured into a group holding company with five manufacturing subsidiaries: Ananta Casualwear Limited (99% shareholding), Ananta Denim Technology Limited (99%), Ananta Fashion Limited (99%), DNV Clothing Limited (75%), and Universal Menswear Limited (51%; a joint-venture company with Romanian suit manufacturer Time Trade International). Major customers include top retail brands such as H&M, GAP and Bestseller Group. AAL has undertaken an expansion plan to be developed in two phases: Phase I, costing approximately US$24.4 million, will primarily involve the relocation of its existing casual woven bottoms factory to a new custom built facility in Kanchpur, south of Dhaka thereby replacing its original factory in downtown Dhaka (the “Project”). The Project is brownfield in nature. The second phase (Phase II), which would involve further capacity expansion, will be undertaken at a future date once Phase I is fully implemented and operational.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation