Zambian Vice President InongeWina recently held talks with India’s Shree Vagmi Cotton Ltd, which will invest $7 million in the next three years to build a factory to process cotton lint. The company has acquired a 26-acre land in Mwembeshi area of Chibombo district in the Central Province and would engage 23,000 cotton farmers in the country in two years.Wina was accompanied by Zambia’s high commissioner to India Judith Kapijimpanga. Vagmi has a cotton factory in Indore.
Shree Vagmi chief executive officer Amit Dwivedi said his company would evolve from cotton ginning to a full textile company in 2020 and would resuscitate the once vibrant textile industry in Zambia, according to Zambian media reports.
The company will be running a scheme under which it will supply farmers with seed, chemicals, wool packs and collect cotton from farming areas, he said.The company will also build houses for some Zambian staff running the factory.
