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

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search