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China's Guangdong Silk-Tex Group to set up base in Kenya

10
Nov '18
China
China’s government-owned Guangdong Silk-Tex Group, world’s largest silk producer, recently announced plans to set up base in Nairobi after top company officials led by chairman Ke Huiqi met Kenyan President Uhuru Kenyatta in Shanghai. The company will establish a silk processing factory at the export processing zone in Athi River and a silk farm.

The cocoon farm will be set up over 8,237 acres with a capacity to handle the entire silk value chain covering cocoon procurement, silk reeling, weaving and trading, according to Kenyan media reports.

The venture is expected to create over 300,000 jobs.

President Kenyatta also held talks with Chinese investors eyeing opportunities at the Lamu port. (DS)

Fibre2Fashion News Desk – India


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