The New Nigeria Development Company, NNDC, says it will invest $15 million through a partnership with a Turkish firm to reactivate the collapsed Kaduna Textile company.

The Group Managing Director, Ahmed Musa, said this to journalists shortly after a closed-door meeting with the Turkish business delegation at the NNDC’s head office in Kaduna.

The delegation had earlier inspected the site of the firm and the Defence Industries Corporation of Nigeria, both at the Kakuri Industrial Layout in Kaduna.

The GMD said the NNDC and the Turkish firm, Sur International Textile, would invest the amount in revitalising the Kaduna Textile.

According to the proposal, the Turkish firm will provide 35 per cent of the amount, the federal government 45 per cent and KTL will give 20 per cent of the funds.

Mr. Musa said in a short term, the KTL would produce uniform needs for the Nigerian Armed Forces as well as the police and other paramilitary agencies in the country, and across the West Africa sub-region.

He said revamping the KTL would boost the economy of Kaduna state and create employment opportunities to the unemployed youths within and outside the state.

“We held a private meeting with a team of delegation from Turkey.

” They want to invest in Kaduna Textile and turn it around.

” In summary, they want to start producing military and paramilitary uniforms for members of the Nigerian Armed Forces,” Mr. Musa said.

According to him, the project is a big and laudable one that will boost the economy of Kaduna State by increasing its revenue drive and create massive employment.

” We have been able to attract investors into the state,” he added.

The NNDC’s Executive Director, Investments, Abdullahi Ali-Gombe, said the agreement would revamp the collapsed Textile firm, owned by the 19 Northern States.

Besides boosting the ailing economy, Mr. Ali-Gombe explained that when operational, the firm would essentially go into production of military and paramilitary garments.

Mr. Ali-Gombe, who is also the Chairman, Restructuring Committee of the KTL, said “we cannot say tentatively when this will take off. We are hoping very soon.

The Kaduna Textile Limited, established in 1957, operated a large integrated textile mill, producing various kinds of garments.

The company, currently in a state of comatose, started operation in November 1957, spinning the country’s cotton and later in January 1958, went into full production of unbleached grey bafts.

In 1961, it began the production of finished garments.

The firm was financed by the Northern Nigeria regional Marketing Board and the region’s development corporation and was managed by an expatriate firm, David Whitehead & Sons.

It was closed down in 2000 following various financial crises and inadequate power supply.

(NAN)

Source: http://www.premiumtimesng.com/regional/nwest/240140-hope-rises-kaduna-textile-planned-15-million-investment.html

Front Page: Dominique Lalasticlala

Good update to kick start the week.

won't they need power?

Nigeria is just a bog joke

in other new checkout

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http://9naija.com.ng/top-stories/50-things-ladies-must-know-men

Yeah cool but is the power supply much better. Tha was part of the reason it closed down first time. It would be interesting to see if they can pull this off.

Good one!

0b100100111:
Good one!

So at your age you still fall for hopeless propaganda.

What happened to the over-celebrated Nigeria-China currency exchange deal?

Good

There is hope that is if Hell Rufai won't behave like a typical Apc man

Naso dem go talk

They've been reviving these companies on paper since 1999.

Let's walk the talk then we can jubilate. Morning Nairalanders.

Doesn't even seem like it's in the pipeline, seems more like a pipe dream because he said that they can't even tell tentatively when the project will begin.


Someone else see it that way?

El-Rufai at work

You'd never see Nigerian youth on threads like this discoursing the way forward.

They are only good at tribal bickering,later dem go start talk youths are not given opportunity to lead

I'm very happy to hear this, it was last month i passed through that road to Abuja and I was so disappointed seeing that industry that used to produce much of our clothes.

everything in this administration is still planned.
Just tell me something they've successfully accomplished.
Ugly set of brainless old cargos!

A lot of investment coming over to Kaduna cause of relentless effort of the governor

Fake news.

Senseless apc.

okwyee:
everything in this administration is still planned

Abi.

APC is a cursed government.

If this work out I Will be so happy for my dad oh cos he worked there. Thank God we are alive n living large even after closure of the company.
But u need to be in Kaduna 2001/2002 to knw Hw life was for many workers there.many become okada riders just to survive

Abeg how many textile mill do we have in this Kaduna self that I keep hearing this old stories.. Nothing will work in that landlocked oil barren cursed desert.. I bet my balls

Good

Finally. Took a long time coming but kudos.
Make I start to plan.

It is a welcome development, but my fear is that most of the machinery are obsolete