INDIA'S SHREE VAGMI COTTON LIMITED, SET TO INVEST SEVEN MILLION U.S DOLLARS IN COTTON PROCESSING.

Vice president Inonge Wina has held talks with India’s Shree Vagmi cotton limited, which will invest seven million us dollars in the next three years to build a factory that will process cotton lint in 2019 alone.
Mrs. Wina who is accompanied by Zambia’s high commissioner to India Judith Kapijimpanga has since toured Shree Vagmi company cotton factory in Indore, in the Indian state of Madhya Pradesh.
She says she is happy to note that the company has already acquired a 26 acre land in Mwembeshi area, Chibombo district, and central province.
Vagmi company chief executive officer Amit Dwivedi says in 2020, his company will evolve from cotton ginning to a full textile which would resuscitate the once vibrant textile industry in Zambia.
Mr. Dwivedi said his company further identified Boniface Daka from Lusaka’s Chawama area who has been fully sponsored and is undertaking a yearlong training programme in India focusing on factory engineering and operations management.
He says the company will engage 23, 000 cotton farmers from Mumbwa, Shibuyunji, Chipata, Petauke, Lundazi, Katete, among others, in the next two years.
Mr. Dwivedi says the company will be running an out grower scheme where it will supply farmers with seed, chemicals, wool packs and ‘we shall collect cotton from farming areas because we will procure an initial fifteen trucks.
And Zambia’s high commissioner to India Judith Kapijimpanga noted with gratitude that Vagmi Company is happy with a clear policy direction by the Zambian government on value addition, and especially that the cotton board of Zambia has a fixed cotton price for a win- win situation.
Mrs. Kapijimpanga says Zambia has reliable transport system, hospitable citizens, and peaceful, progressive legal and banking systems.
The high commissioner said she is happy to note that Vagmi Cottons Company will also build houses for some Zambian staff running the factory.
The vice president is later expected to hold talks with top investors in Indore city and meet a company specialized in securing public infrastructure.
This was contained in a statement made available by first secretary press and tourism at the Zambian mission in India Bangwe Naviley