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

Pic: Shutterstock

Apparel/Garments | On 4th Aug 2021

US FTC votes to reverse course on repeal of fabric care labels

The US Federal Trade Commission (FTC) recently voted to retain the...

Pic: Shutterstock

Retail | On 4th Aug 2021

June retail turnover in Germany up by 4.2% over previous month

Retail sales in Germany rose much more than expected in June...

Pic: Kontoor Brands/Wrangler

Apparel/Garments | On 4th Aug 2021

US’ Kontoor aims for sustainable growth with diversity & inclusivity

Kontoor Brands, an American apparel company with denim brands like...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Andrea Pelissero,

Andrea Pelissero

Located near Milan, Italy, and with 50 years of experience in the textile...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

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


July 2021

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


Advanced Search