Dhaka, Nov. 16 -- Japanese-Bangladeshi fashion and sustainability venture REVIVAL Group Co Ltd and REVIVAL Projects Ltd will lease and restart the long-shuttered BEXIMCO Textile Division, according to a press release.

The decision paves "the way for more than 25,000 workers to regain their jobs and rebuild the stability that was lost when the factory was forced to close," Benchmark PR said in a press release on Sunday.

The initiative is supported by US-based financing partner Ecomilli, founded by non-resident Bangladeshi (NRB) professionals.

"The reopening promises to reverse the devastating impacts felt when BEXIMCO Textile-once a national engine of growth and resilience was shutdown due to loan defaults after over three decades of su...