UK Investor plans US$100m investment in Rwanda’s textile industry
October 31st, 2008
African Press Agency, Senegal
APA-Kigali (Rwanda) A UK-based textile industrialist, Raj Loomba of the Linku industrial group, Thursday said his group intends to invest over US$100 million in a textile industry in Rwanda.
He said the move will not only boost the country’s industrial out-put but also economic growth in the region.
Speaking on a discussion panel during the on-going East African International Commonwealth Business Forum, Raj said that Rwanda needs not just a plant but a well developed textile industry given position in the region and Africa.
He said the experience he has with China since 1987, there is no doubt Rwanda too can develop at the same rate in a few years given her development oriented leadership.
Raj said the one hundred million dollars would be used in importing industrial machinery, hiring skilled labour both in installation and textile work among others.
“For twenty years I have been in China, seeing the country growing from scrape, I am sure Rwanda too can make it in few years,” Raj said.
He however noted his potential threats as poor infrastructure, lack of skilled labour, lack of raw materials among others but said with government facilitation such huddles can be overcome.
The mayor of Kigali City Dr Aisa Kirabo Kacyira assured the prospective investor all the needed support asking him to closely work with the government to carry out the feasibility study for the project.
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