A tripartite deal is likely to be signed in the third week of November to reopen Beximco Textile Division by December 2025, bringing more than 25,000 workers back at work with dignity and security.
Following the move of the Japanese-Bangladeshi ethical fashion and sustainability venture, Revival Group Co. Ltd. and Revival Projects Ltd. have confirmed that they will lease and restart the Beximco Textile Division.
The draft tripartite agreement among Revival Projects Ltd., BEXIMCO, and Janata Bank was submitted on October 8, 2025.
Talking with FE, an official of Beximco Group said, “We are planning to sign a tripartite contract next week with the Japanese company Revival and Janata Bank. The three parties have already finalized the draft agreement. The signing ceremony date depends on the clearance, once the Janata Bank board approves the draft, which is set to be approved on Tuesday, November 18.”
Senior leadership teams from REVIVAL and Ecomilli are planning to arrive in Dhaka in the third week of November for the official signing ceremony.
Supported by US-based financing partner Ecomilli, founded by leading Non-Resident Bangladeshi (NRB) professionals, the initiative marks one of the most significant employment restoration efforts in the country’s recent history, according to a press release received on Sunday.
In the first phase of the partnership, REVIVAL and Ecomilli will deploy US$20 million in back-to-back LC support, with plans to expand to US$100 million depending on factory performance and global demand. By 2027, REVIVAL projects annual profits of BDT 5,000 million — revenues that will support repayment of outstanding loans and ensure long-term financial stability for the country’s largest textile brand.
The reopening promises to reverse the devastating impacts felt when BEXIMCO Textile, once a national engine of growth and resilience, was shut down due to loan defaults after over three decades of successful operations.
Overnight, thousands of workers were displaced, small businesses around the industrial zone collapsed and entire communities faced deep financial uncertainty.
REVIVAL’s decision to take over the unit through a long-term lease brings renewed hope to those families who lost not just employment, but also the lifeline of their livelihoods.
REVIVAL’s plan is centered on a full-scale factory restart, reinstating the original management team and welcoming back the entire workforce.
The company’s Japanese-Bangladeshi identity will play a crucial role in the revival, as Japanese management systems and operational discipline will be introduced through experienced C-suite leaders from Japan.
In addition, a global Big Four accounting firm will be appointed to ensure transparency and international-standard governance aiming to create a work environment where efficiency, accountability and worker welfare remain uncompromised.
Beyond reopening the factory floor, the lease agreement reflects REVIVAL’s long-term vision for Bangladesh’s textile and fashion industries.
The company aims to reconnect BEXIMCO Textile with its global buyer base, while simultaneously developing new international partnerships.
REVIVAL intends to establish Bangladesh not only as a reliable manufacturing destination, but also as a source of innovation and brand creation.
The company’s philosophy ‘Design locally, sell globally’ underscores its commitment to elevating Bangladeshi products from low-cost garments to premium, design-driven global fashion offerings. Also exporting premium products that carry the pride of “Made in Bangladesh.”
https://today.thefinancialexpress.com.bd/first-page/beximco-textile-division-set-to-reopen-by-december-1763317753
