The long-stalled operations of Beximco Textiles are expected to resume as Japanese company Revival, Janata Bank, and Beximco prepare to sign a tripartite agreement next week. The deal will move forward once Janata Bank’s board approves the draft on Tuesday (18 November).
All three parties have already finalized the agreement, which will pave the way for Revival Group Co Ltd and Revival Projects Ltd—an ethical fashion and sustainability venture operating between Japan and Bangladesh—to lease and restart the textile division.
If the factory reopens, more than 25,000 workers stand to regain their jobs, marking one of the largest employment restoration efforts in the sector. The initiative is backed by US-based financing partner Ecomilli, founded by leading Non-Resident Bangladeshi professionals.
Revival CEO and co-founder Huda Mohammed Faisal said, “This is far more than just reopening a factory. It is about restoring dignity for thousands of families. Every job regained is a story of recovery and renewed confidence in the nation’s future.”
Beximco Ltd Managing Director Osman Kaiser Chowdhury noted that the company tried to keep the division running until the government-mandated shutdown.
“Our priority was to protect the livelihoods of 42,000 workers and sustain nearly $40 million in monthly exports. Despite severe challenges, we kept our machinery ready so the factories could restart immediately. The agreement with Revival now makes that possible.”
Ecomilli President Farhan S Karim said, “As a non-resident Bangladeshi, it is an honor to help revive a facility that once powered our national economy. This is not brain drain—it is brain gain. We are proud to support the nation’s industrial resurgence.”
Beximco Textile, once one of the country’s largest textile manufacturing units, was shut down due to loan defaults after more than three decades of operation. Revival stepped in with a long-term lease proposal focusing on a complete restart, reinstatement of the original management team, and returning the full workforce.
The company plans to introduce Japanese management systems, experienced C-suite leaders from Japan, and oversight from a global Big Four accounting firm to ensure transparency and international-standard governance.
Revival also aims to reconnect Beximco Textile with its global buyers, develop new partnerships, and position Bangladeshi products in premium international markets under the philosophy: “Design locally, sell globally.”
The company plans to launch advanced training programs, international-standard certification for designers and professionals, and Bangladesh’s first comprehensive Design Institute, supported by experts from Japan, the US, and Europe.
The draft agreement was submitted on 8 October. Janata Bank’s board will review it next Tuesday, and all parties expect to sign within the month. Senior leadership teams from Revival and Ecomilli will arrive in Dhaka in the third week of November for the signing ceremony.
In the first phase, Revival and Ecomilli will deploy $20 million in back-to-back LC support, with plans to expand to $100 million based on performance and global demand. Production is expected to resume by December, restoring jobs for more than 25,000 workers.
By 2027, Revival projects annual profits of Tk 500 crore, strengthening the company’s financial stability and supporting repayment of outstanding loans—signaling a major turnaround for one of Bangladesh’s largest textile brands.
