Home / Knowledge / News / Textiles / Govt to allocate over US $2 billion for industrial revival
Govt to allocate over US $2 billion for industrial revival
11
Jan '11
Joaquim David, Minister of Geology, Mining and Industry recently confirmed the state's intention to release over two billion dollars for financing the revival of various factories in the nation.

In this context, the Minister had made an announcement that a textile factory - “Textang II” would be revived, by equipping it with the latest technological equipment, so as to enable it to produce goods that can compete with the goods brought in from foreign countries.

Of the total funding of more than two billion dollars, over 50 percent is meant to be used for revival of the private sector industries.

He affirmed that, presently the sector is in an underpinning stage where it is analyzing and discussing the financial contracts for revival of the industries like the cotton-ginning industry in the province of Malanje, “África Têxtil” in Benguela province and the “Satec” in the city of Dondo in the Kwanza Norte province.

He also stated that, as far as the agricultural sector is concerned they are trying to raise the area under cotton cultivation.

Revival of the textile industry of the country was amongst the most important activities undertaken during 2010, the Minister said.

Fibre2fashion News Desk - India


Must ReadView All

US announces final CVD on fine denier PSF from China, India

Textiles | On 19th Jan 2018

US announces final CVD on fine denier PSF from China, India

The US secretary of commerce Wilbur Ross recently announced the...

EU consumers to gain from cheaper, safer, better e-payments

Apparel/Garments | On 19th Jan 2018

EU consumers to gain from cheaper, safer, better e-payments

European consumers can now reap the full benefits of paying online...

Courtesy: Epson

Textiles | On 19th Jan 2018

Epson's new SC F2100 enhances DTG printing

Epson, a leader in inkjet printers and digital textile printing...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Liz Manning

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

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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