Sanjoo Dyeing and Printing Mills Pvt Ltd is planning to invest $15 million in Zambia to set up a textile facility. The project may take a year to be operational and will reduce the cost of linen in the African country, apart from creating 400 jobs, company director Vishal Budhia said when Zambian high commissioner Judith Kapijimpanga visited his unit in Surat.
Budhia plans to lead a delegation of textile industrialists to Zambia, according to a report in a Zambidna news portal that quoted a statement from the Zambian Mission in India.
Kapijimpanga said investing in Zambia had many benefits as an investor could export to the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA) regions as well as to the United States through the African Growth and Opportunity Act (AGOA).
The total investment from India to Zambia now stands at $8 billion, she said. Three Indian companies—Prasad Seeds, Vagmi Cottons and OM Rollers and Smelters—have started operations in Zambia in the first half of 2019 with a combined investment worth over $100 million, she added.