Home / Knowledge / News / Textiles / Japan to fund resumption of textile industry in Angola
Japan to fund resumption of textile industry in Angola
14
Jul '10
According to the Minister of Industry, Geology and Mines, Joaquim David, Japan has given away US $500 million as funds to Angola, so as to implement the project of re-launching the nation's first three textile industry units.

The funds that have been acquired by Angola's Forestry Development Institute will be covering 85 percent of the cost of the project, which will be developed in phases, informed David in Luanda.

These statements were made during the inaugural of a meeting on 'Re-launching the Textile Industry in Angola. Further more, David added that, the project involved firms like Textang II from Luanda, Africa Textil 1 de Maio from Benguela and Satec from Dondo.

The project is likely to commence with the rehabilitation of Textang II, wherein around US $240 million will be invested, followed by Africa Textil 1 de Maio in Benguela, which will witness investment of $480 million and last is Satec in Dondo with an investment of $150 million, averred David.

Owing to shut down of operations at the three plants, several people had lost their jobs. But with the new initiative, the Minister hopes that Angolan entrepreneurs would soon be in a position to operate their closed plants again, instead of keeping the same under management or state control.

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Larry L Kinn
Suominen Corporation

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Karan Arora
Karan Arora

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

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 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search