Noman Group, established in 1997 by Md. Nurul Islam, is a leading Bangladeshi conglomerate in the textiles and garments sector. Over the years, the group has made significant investments to enhance its production capabilities and meet the growing demands of international markets.
Key Investments and Expansion Initiatives:
- Nice Spun Mills: In 2017, Noman Group invested Tk 1,300 crore to establish Nice Spun Mills in Gazipur. This state-of-the-art spinning facility was designed to produce 124 tonnes of yarn daily, catering to both knitwear and fabric divisions. The mill aimed to streamline operations and reduce lead times for exports. citeturn0search1
- Polyester Fashion Fabrics Plant: In 2018, the group announced plans to invest Tk 500 crore in a plant at Bhaluka, Mymensingh, to produce Georgette and Chiffon fabrics from synthetic fibers. This initiative was expected to contribute at least $100 million annually to Bangladesh’s export earnings and create employment opportunities. citeturn0search2
- Spinning Division Enhancements: Noman Spinning Division operates with over 496,000 spindles and 18,000 rotors, producing approximately 450 tons of yarn daily. The company focuses on technological upgrades and innovation, working with a wide range of fibers, including cotton, viscose, lyocell, polyester, and local materials like pineapple and banana fibers. citeturn0search5
- Expansion Plans for New Garment Factories: In 2023, Noman Group suspended plans to invest in three new ready-made garment factories due to escalating fuel prices and geopolitical challenges, notably the Russia-Ukraine conflict. This decision was made to reassess strategies amidst rising operational costs. citeturn0search3
Strategic Focus:
Noman Group has strategically focused on both European and U.S. markets, while also exploring emerging markets in Asia and Latin America. The group emphasizes technological innovation, sustainability, and diversification to maintain its competitive edge in the global textile industry.
These investments and strategic initiatives underscore Noman Group’s commitment to strengthening Bangladesh’s position in the global textile market and contributing to the country’s economic growth.