India’s textile manufacturer Shreejikrupa Spinners shall invest USD 40 million in Bulawayo soon. The company will set up a manufacturing unit there.
The company offers a wide range of products that includes surgical cotton, sewing thread, slub yarn, citra yarn, knitting yarn, mélange yarn, weaving yarn and multifilament twisted yarn.
Industry and Commerce Deputy Minister Raj Modi reportedly said that the Indian had shown keenness in establiahing a polyester manufacturing plant in Bulawayo.
Markedly, the news has come after a successful business tour to Bulawayo.
“I can confirm that Shreejikrupa Spinners has indicated intention to come and set up a polyester plant here in Bulawayo whereby the company will come with the latest technology of recycling plastic into polyester,” he said.
A number of textile players in most developed countries have resorted to recycling plastic bottles into soft polyester thread to make eco-friendly clothing.
“The company officials expressed interest to come for feasibility studies as early as next month thus they are only waiting for us to give us the nod to visit the country,” said the Minister.
Prospects of Shreejikrupa Spinners setting up a plant in Bulawayo are high in light of the fact that the Government has designated the city as the beef and leather value chain and textiles and clothing Special Economic Zone (SEZ).
By their nature SEZs are attractive to foreign investors as they cover a broad range of economic activities, such as free trade zones, export-processing zones, industrial parks, economic and technology development zones, high-tech zones, science and innovation parks, free ports, enterprise zones, and others.
