Home / Knowledge / News / Textiles / Zambia's Mulungushi Textiles may soon resume operations
Zambia's Mulungushi Textiles may soon resume operations
07
Jun '14
courtesy: Zambia Daily Mail
courtesy: Zambia Daily Mail
The Zambia-China Mulungushi Textiles (ZCMT) may soon resume operations under a new Tanzanian investor, reports Zambia Daily Mail.
 
During his meeting with Central Province permanent secretary Edwidge Mutale in Kabwe, Zambian Defence Minister Edgar Lungu said that terms and conditions for revival of the ZCMT have been agreed upon between the Government and the new investor.
 
Mr. Lungu said the revival of the ZCMT was not taken up immediately because the terms and conditions agreed upon must first be approved by the Attorney General, and then only an agreement can be signed and the process can be taken forward.
 
The Minister said the board of ZCMT is expected to meet before ZCMT commences operations, in June-end or thereafter. He added that the revival of the textile mill is important as it would create jobs.
 
ZCMT ceased operations in 2007-08 owing to financial problems, obsolete machinery, high cost of production, stiff competition with imported textile products from Asia, erratic supply of raw materials, and failure by clients to liquidate their debts.
 
The ZCMT set up in 1997 as a 66:34 joint venture between the China-based Qingdao Textiles Holding Group Company Limited and the Government of Zambia.
 
Subsequently, Qingdao Textiles invested US$ 24 million in ZCMT to develop the textile mill that was functioning earlier as Mulungushi Textiles.
 
During its closure, the ZCMT employed about 1,000 people. In the run-up to the elections in 2011, President Michael Sata had promised to reopen the textile factory to create more jobs for Kabwe residents.
 

Fibre2fashion News Desk - India


Must ReadView All

Union Minister for finance Arun Jaitley chairing the 25th GST Council meeting, flanked by minister of state for finance Shiv Pratap Shukla (right) and finance secretary Dr Hasmukh Adhia. Courtesy: PIB

Textiles | On 20th Jan 2018

GST rate on velvet fabric reduced to 5%

The 25th Goods and Services Tax (GST) Council meeting, held under the ...

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

Textiles | On 20th Jan 2018

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

The revenue from the petrochemicals segment at Reliance Industries...

Courtesy: Cotton USA

Textiles | On 20th Jan 2018

US cotton bodies pledge to support CCI activities

Ten US cotton organisations have pledged industry contributions in...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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