India’s Vagmi Cotton to invest $7m in building cotton processing factory in Zambia’s Mwembeshi

The Vagmi Cotton's Limited is all set to pump out a gigantic amount of USD 7 million to manufacture a factory in Zambia in 2019. The Indian company targets to generate 8,000 metric tonnes of cotton lint in the current year.

The Vagmi Cotton's Limited has already acquired land of around 26-acre in Zambia's Mwembeshi in Chibombo district. The company has a plan to evolve from cotton ginning to a complete textile in the next year. With this expansion plan of the Indian company, the textile industry in Zambia is likely to step up to its next level.

According to Amit Dwivedi, CEO of Vagmi Cotton, the company is currently in talks with Indo-Zambia Bank to ensure possibilities of a joint venture or leasing the defunct Kafue Textiles Company. He further said that his company identified Boniface Daka from Lusaka's Chawama area who has been fully sponsored. Now that company is undertaking a year-long training programme in India focusing on factory engineering and operations management, as reported by Lusaka Times.

Vagmi Cotton is said to be engaging with 23,000 cotton farmers from various destinations like Katete, Chipata, Mumbwa, Lundazi to name a few in the next two years. The company further plans to run an outgrower scheme where it will supply farmers with seed, chemicals, wool packs. Alternatively, it will be the company's onus to collect cotton from farming areas as it will procure 15 trucks initially.

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