Shasha Denims plans to expand at estimated investment of Tk 155 crore

Shasha Denims Limited plans to invest an estimated Tk 155 crore to expand its production capacity in the Dhaka Export Processing Zone, according to the company.

In a filing on the Dhaka Stock Exchange today, the manufacturer said the board has decided to expand the production capacity by installing 105 loom machines in its plots at the Dhaka Export Processing Zone.

The estimated investments would be Tk 155 crore, Aslam Ahmed Khan, company secretary of Shasha Denims, told The Daily Star.

Shasha Denims also plans to invest in GA Garments Ltd, where directors have a common interest.

So, the board of directors has decided to hold an extraordinary general meeting to take shareholders' approval for investment in GA Garments.

The investment in shares of GA Garments will be made in exchange of assets of Shasha Denims under a vendor's agreement. The remaining amount will be paid through bank transfer, said the filing.