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Kenyan govt earmarks Sh 680 million to revive Rivatex
24
Jul '15
The Kenyan government has earmarked 680 million Shilling ($6.8 million) to revive and expand operations at the Rift Valley Textile Mills (Rivatex) in Uasin-Gishu County, deputy president William Ruto has said, according to reports in the country's newspapers.

He said the government will work with other stakeholders in providing facilities aimed at expanding the textile plant.

“The government will spend Sh 680million to expand the textile plant and purchase equipment to facilitate operations at the cotton industry,” said Ruto in the western Kenyan town of Eldoret.

The project is being spearheaded by Moi University.

The deputy president urged investors to take advantage of emerging business opportunities in the country to initiate development projects.

“We must be ready and prepared to work with investors and entrepreneurs and tap those opportunities and use them as avenues for the growth of this country,” Ruto said

Uasin-Gishu Governor Jackson Mandago said the county was ideal for investments and called on business community to make use of the conducive environment for investment.

Moi University vice chancellor Prof Richard Mibey said the project will enhance capacity building in the field of technology.

In 2014, India had shown interest in reviving Rivatex. The Star newspaper of Kenya had reported in August last year that subject to the Indian government clearing the proposal, the Export-Import Bank of India would provide funding totaling to Sh7.9 billion, for the planned expansion of the textile company. (SH)

Fibre2fashion News Desk – India


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