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INDIAN COTTON COMPANY TO INVEST $7 MILLION IN ZAMBIA

Inonge Wina, Vice President of Zambia recently visited Indian company Shree Vagmi Cotton, which plans to invest $7 million in the next three years to build a cotton lint processing factory in Zimbia. The company has acquired a 26-acre land in Mwembeshi area of Chibombo district in the Central Province and would engage 23,000 cotton farmers in the country in two years.

Vagmi already has a cotton factory in Indore. The company plans to evolve into a full textile company in 2020 and resuscitate the once vibrant textile industry in Zambia. It will run a scheme under which it will supply farmers with seed, chemicals, wool packs and collect cotton from farming areas. The company will also build houses for some Zambian staff running the factory.

 
 
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