# Envoy Textiles finalizes €10.8M loan from ADB for second spinning unit

Envoy Textiles has finalized a €10.80 million loan agreement with the Asian Development Bank to purchase machinery for its second spinning unit, which will have an annual yarn production capacity of 3,600 tonnes.

- Type: Investment
- Announced: 2022-12-06
- Where: Bangladesh
- Value: $11.4M (10.8M EUR)
- Status: announced
- Capacity: 3,600 tonnes of yarn per year
- Products: denim fabrics, yarn
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Envoy Textiles](https://endata.com/companies/67122.md)
- [Asian Development Bank](https://endata.com/companies/28212.md) (investor)

## Sources

- [thefinancialexpress.com.bd](https://thefinancialexpress.com.bd/stock/envoy-textiles-finalises-1080m-loan-deal-with-adb-1670295661), 2022-12-06: "The new unit will be automated and more energy efficient, and will have an annual yarn production of 3,600 tonnes to be used for mainly in-house production of denim fabrics."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.