cotton
cotton

Chinese Ambassador to Zambia Yang Youming said he was delighted that China-Africa Cotton Development Limited has invested about 30 million U.S. dollars in Zambia through the establishment of a complex enterprise which includes planting, processing and sales of cotton.

cotton
cotton

“I have learnt with great joy that the company now has become one of the best Chinese agriculture enterprises in Africa with 90,000 cotton growers and 100,000 hectares of cultivated area in Zambia,” the Chinese envoy said in a column published in the Zambia Daily Mail.

The company has since shown interest in reviving a textile firm in central Zambia’s Kabwe town.
Patrick Chisanga, the head of Zambia’s investment agency, the Zambia Development Agency (ZDA), told local media that the agency was in the process of finalizing negotiations with the Chinese firm for the takeover of the closed Zambia-China Mulungushi Textiles.

The official said the firm intends to process an annual 40,000 tons of cotton it grows in eastern Zambia through an outgrower scheme where it has engaged smallholder farmers at the textile plant.

The textile plant, which has been facing operational challenges, has a ginnery, spinning, weaving and processing factories.

Established in 2009, China-Africa Cotton Development is a joint venture by China-Africa Development Fund, Qingdao Ruichang Cotton Industrial Company and Qingdao Huifu Textile Company Limited.

The company has invested in many projects in various African countries including Malawi, Mozambique, Zambia and Zimbabwe and focuses on seed researching, plantation, cotton purchasing and processing, cotton seed oil processing and textile making. Enditem

Source: Xinhua

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.