Home / Knowledge / News / Textiles / New cotton company to generate huge employment

New cotton company to generate huge employment

01
Jul '09
The President of the recently commissioned Malawi Cotton Company, Mr. Bingu wa Mutharika said the company had the potential to provide employment to over 1,000 people and also increase economic activity in the township.

The investment by the Malawi-Mainland China bilateral partnership is worth US$25 million and the company will possibly help in setting up new small and medium businesses as entrepreneurs exploit job opportunities generated from the Chinese investment.

The project includes an up-to-date cotton ginnery, cooking oil extraction and textile manufacturing plants with residue processed into cotton seed cake all under one roof.

The Malawi government expects large benefits from the investment as besides a reliable market for by products like cheap cooking oil, cotton seedcake, textiles it would also generate a lot of taxes as well provide employment.

This business venture would provide an alternative market to the cotton growers, which would ensure remunerative prices for the cotton growers. At present, more than 300 people have been employed on the wages of K300 an 8 hour day while the minimum wage approved by the government is K167 an 8 hour day.

The company occupies 28 hectares of land will employ about 1000 people after starting full operations and will organize research on the cotton varieties suitable for the local environment. It also has distributed 45,000 sacks to the farmers for packaging of cotton.

Fibre2fashion News Desk - India


Must ReadView All

Rajive Ranjan (left), Managing Director, Techno Design GmbH and Technocian Fashions, with Oliver Hein, COO, s.Oliver Group. Pic: PDS Multinational Fashions Limited

Apparel/Garments | On 2nd Dec 2021

PDSMFL (BSE:538730) to source for s.Oliver from India, Sri Lanka

India-based PDS Multinational Fashions Limited (listed on Bombay...

US President Joe Biden. Pic Palinchak | Dreamstime.com

Retail | On 3rd Dec 2021

American families have more money in their pockets: US President

Even after accounting for rising prices, the typical American family...

Pic: heimtextil.messefrankfurt.com/

Textiles | On 3rd Dec 2021

Messe Frankfurt cancels international home textiles fair Heimtextil

The Messe Frankfurt Group has announced cancellation of Heimtextil,...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Dr. Catherine Tubb,

Dr. Catherine Tubb

Created in 2018 to investigate the risk of market failure related to...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Seth Casden, Hologenix

Seth Casden
Hologenix

Hologenix is a material sciences company dedicated to developing products...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Manish Malhotra, Label Manish Malhotra

Manish Malhotra
Label Manish Malhotra

A multitalented designer and founder of an eponymous label, Manish...

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

Leave your Comments


December 2021

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


Advanced Search