Matin Spinning Mills takes 10 acres land for expansion

Matin Spinning Mills, a concern of DBL Group, has decided to lease an industrial plot of 10 acres for 50 years at Bangabandhu Sheikh Mujib Shilpa Nagar for future expansion of the company.

Board of directors of the company, which is listed on Dhaka Stock exchange, approved the decision on Wednesday.

Rental cots would be $ 0.60 per square meter per annum, meaning that the annual rental charge would stand at nearly Tk 10.32 crore excluding VAT and registration fees.

Matin Spinning Mills acquired the land from the sales proceed of a plot of 5.23 khata situated at Alaul Avenue, plot-40, sector-6, Uttara, Dhaka and from own sources of fund, it said.

Matin Spinning Mills offers a diverse product line to fulfill demands of customers and has one of the finest yarn spinning facilities in the country.