Lira Spinning Mill needs $10mn to complete upgrading
18 Jan '07
1 min read
Over $10 million is needed by Lira Spinning Mill for the completion of its upgrading program.
Mill is managed by a joint venture formed in 2000 with Chinese firm Jinda International Textiles Corporation. Phase one of the upgrading process is complete according to Charles Kareeba, Jinda's Board Secretary.
He added that to enhance spinning of thread and cotton ginning capacities, 10,000 fresh spindles and a ginnery have been set up. Mill will manufacture and export yarn to Chinese markets.
Second phase will focus on installation of dyeing and weaving equipment. On account of Government policies, which encourage raw cotton exports, expansion process was sluggish.
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