Home / Knowledge / News / Textiles / Closed Sino-Zambia textile mill to reopen
Closed Sino-Zambia textile mill to reopen
09
Mar '10
By end of the existing year it has been decided to reopen the Zambia China Mulungushi Textiles (ZCMT). The company was jointly owned by China and Zambia with respective share holding of 66 percent and 34 percent, and was shut down in 2008.

Kalombo Mwansa, Defence Minister, divulged before the Parliament, that as and when the textile company reopens, employment opportunities will be generated for over 1,000 of people residing in Kabwe.

He also stated that a dialogue is going on between government of Zambia and China, in order to figure out as to what amount of contributions will follow from both the countries, towards operations of the company.

According to him, a proposal of acquiring majority share holding in the company is also being considered by the government. If this materializes, major control of the company will be with the government which will aid in circumventing any future closures. He further added that, the government is trying to find out a third partner for acquiring shares of the company through Zambia Development Agency (ZDA).

While responding to Davies Mwango, Member of Parliament, Kanchibiya who was keen to know if ZCMT is going to be reopened, Dr. Mwansa, observed that the government will see to it that the company acquires high-tech technology and also that the products that are produced by the company will be sold in the international market.

He also revealed that the partners withdrew from the company, as it was running in to losses due to outdated machineries.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

India to be largest cotton producer in 2018-19: USDA

Textiles | On 22nd Jun 2018

India to be largest cotton producer in 2018-19: USDA

For the fourth consecutive season, India is expected to be the...

Organic Basics gets Polygiene help for advanced underwear

Apparel/Garments | On 22nd Jun 2018

Organic Basics gets Polygiene help for advanced underwear

Danish firm Organic Basics is working with Swedish company Polygiene, ...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

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

Suresh Patel
Sidwin Fabric

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

Kerem Durdag
Biovation II LLC

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Igor Chapurin
Chapurin

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

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search