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Giant Clothing company expansion to bring 700 jobs
25
Jun '10
Lately, as requests made by the Giant Clothing Company for expansion has been approved, it is believed that, this would give rise to around 700 fresh vacancies in the country.

Government Press Secretary, Macanjana Motsa, informed that, the approval has been granted for a 10-year duration commencing from April 2010 till March 2020.

She stated that, Giant Clothing Company produces safety apparels by utilizing fabrics, so as to lop off the finished apparel phase for Southern Africa Customs Union (SACU) market.

The company would fetch self-financed investment to the tune of E 35 million in the nation's economy, which is believed to generate around 680 new vacancies in the very stage of initialization of its operations, averred Motsa

She also informed that, over the period of 10-years the Economic Rate of Return (ERR) at which, the country would be benefiting owing to such investment, is estimated to be around 10 percent, which is a pre-requisite for companies, so as to be eligible for claiming the incentives.

Factors like employment criterion, poverty mitigation, hike in export proceeds, etc. were the decisive factors based on which, the ERR was calculated, she informed.

Fibre2Fashion News Desk - India


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