Home / Knowledge / News / Textiles / Kwara secures $56mn Chinese investment for textile park
Kwara secures $56mn Chinese investment for textile park
13
Jun '16
Western Nigerian state of Kwara has secured a $56 million investment from a Chinese company for setting up of a textile industrial park in the state, according to local media reports.

The agreement for establishment of Kwara Chitex Industrial Park was finalised and signed during Kwara governor Alhaji Abdulfatah Ahmed's recent visit to Ningbo, in east China's Zhejiang province.

As part of the deal, Ningbo Jinsheng Star Import and Export Company would invest $56 million in Nigeria for setting up of the textile park, while Kwara state would provide up to $5 million in counterpart funding and also make available 400 hectares of land as well as infrastructure support.

Once operational, the textile park is likely to provide employment opportunity to 3,000 people, Ahmed said.

Kwara government is focusing on manufacturing to stimulate its economy and create jobs. “We are looking for investors especially in the area of manufacturing,” Ahmed said.

The state has very young population, which can provide strong workforce for industrialisation. (RKS)

Fibre2Fashion News Desk – India

Must ReadView All

Apparel/Garments | On 5th Dec 2016

EC proposes new tax rules to support e-commerce in EU

The European Commission (EC) has unveiled a series of measures to...

Apparel/Garments | On 5th Dec 2016

Traders to intensify adoption of digital payments

Adoption of digital payments in their existing business format would...

Textiles | On 5th Dec 2016

US textile & apparel exports down 6.44% in Jan-Sept ’16

The exports of textile and apparel from United States were down 6.44...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search