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Gherzi applauds AGOA spinning mill project

17
Jan '06
Susan Muhwezi, Special Presidential Assistant, AGOA, informed that the work for the spinning mill going on full stream.

The plant is scheduled to begin operating before the closure of the third country fabric sourcing in September 2007.

Muhwezi said that a domestic fabric source was necessary to keep the upcoming textile factories working.

Gherzi, a Swiss firm, was contracted to study the feasibility of setting up a spinning mill in Uganda.

Gherzi,founded by Giuseppe L. Gherzi, over the last seven decades has developed and implemented over 7500 projects successfully in more than 80 countries.

The study revealed positive results and profitable aspects such as substantial value addition in cotton's worth to almost a double, when converted into yarn.

Hence, if Uganda's current cotton lint export worth $40 million is converted into yarn, it would turn to $80 million in earnings.

The mill will create direct employment for 175 workers, and indirectly engage thousands in cotton farming, packaging and transport sectors.

The proposed pilot project would generate exports of $10 million per annum.

Gherzi also reported that a few reputed investors had shown interest in the project.

Muhwezi called for more investors to come forward for developing the textile sector.


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