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