Ananta Apparels Limited

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Ananta Apparels Limited (“AAL”, “Ananta” or the “Company”) is one of the leading apparel exporters of Bangladesh. The company specializes in denim products with monthly production capacity of 2.7 million woven bottoms across five factories employing about 18,000 workers. Key processes include design, manufacturing (sewing lines) and washing. The “Wash” division includes “wet process” options such as bleaching and enzyme, resin and ozone washes; and dry processes such as high intensity laser etching, 3D whiskering, oven wrinkling and grinding. AAL has undertaken an expansion plan to be developed in two phases:  Phase I, will primarily involve the relocation of its existing casual woven bottoms factory to a new custom built facility. Initially, the plan was to construct the facility in Kanchpur, south of Dhaka, however, shortly after the IFC investment in October 2013, AAL was informed by the Bangladesh Export Processing Zone Authority (“BEPZA”) that it has been awarded a 30-year lease on a 3-acre unbuilt plot within the Adamjee Export Processing Zone (AEPZ). Considering the better infrastructural and administrative facilities available in an EPZ as well as other fiscal and non-fiscal incentives, the company decided to construct the new facility in AEPZ  (the “Project”). The Project is therefore, greenfield in nature. Also, initially the plan was for the new facility to replace the one of AAL’s existing facilities in downtown Dhaka, however, in June 2016, the company decided to continue its existing facility as well as operate the new facility. The reasons for this are explained in detail in the section on PS2.The second phase (Phase II), which would involve further capacity expansion, will be undertaken at a future date once Phase I is fully implemented and operational.  IFC will provide a financing package at the corporate level and will help mobilize parallel funds.