Type to search

News

Rivatex East Africa to Revive after a Sh 2.9 Billion from India Govt

Peter Musila 2 years ago
Share

The Indian Government has invested Ksh 2.9 billion into the Rivatex company which will be used to revive the textile factory and have it back on the operation.

According to The Indian High Commissioner to Kenya Rahul Chabra, the funds pumped in will be used in the modernization of the Eldoret based firm.

Also, India disbursed Sh 10 billion loans to mechanize agriculture in the country something which will also see the Eldoret based firm benefit.

India had earlier given the company new machines which were to be used in the modernization process.

According to the Rivatex Managing Director Prof Thomas Kipkurgat, the machines would play a key role in improving the production from the initial 5,000 meters to 40,000 meters.

The company opened in the year 1975 and has faced several challenged among them being mismanagement which saw the company being on receivership in 1990.

The revival of the textile firm is also set to encourage cotton growing in Baringo and Kericho, Elgeyo Marakwet and West Pokot counties.

PLOTS AND HOUSES FOR SALE
Kenya2U has Great Property Deals Just for You!
• Intercity Gardens in Kitengela@ Ksh1.895M
• Tinga Springs in Kajiado @ Ksh99,000
• Ruaka Ridge homes in Ruaka @ Ksh7.1M
• Grey Oak property in Nanyuki @ Ksh350,000
• Grey Oak property in Athi River @ Ksh450,000
• Blue Bells Apartment along Beijing Road @Ksh7.4M
• inFinity Properties in Kantafu @Ksh 625,000
Call 0742343908 to Book yours Now!

%d bloggers like this: