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Omani textile spinner withdraws expansion plans for Bangladesh

Power and gas rates in Bangladesh has hurt the textile business. Muscat Thread Mills, an Oman-based sewing thread manufacturer, has pulled the plug on its plans of setting up a spinning unit as it was unable to find an ‘economical source of fuel to run its operations’. Bangladesh is a virile and a relatively unexplored market for spinners as the country has negligible production capacities of natural and synthetic fibres, owing to which only a […]

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