Kerala state moots one time capital infusion for textile industry

News Tags: capital investment, expert committee headed by P. Nandakumar, Kerala state government, modernization strategy, recommended one time fund infusion, revive seventeen mills, sustainable development, working capital

Thiruvananthapuram
Kerala state moots one time capital infusion for textile industry
Summary: 
Kerala state government’s expert committee headed by P. Nandakumar, comprising, among others, M.P. Sukumaran Nair, chairman, Public Sector Restructuring and Internal Audit Board, has recommended one time fund infusion of Rs. 494.81 crore, Rs. 317.89 crore for capital investment, and Rs. 176.93 crore as working capital for revival of 17 mills in the State with a sustainable development and modernization strategy.

Kerala state government’s expert committee headed by P. Nandakumar, comprising, among others, M.P. Sukumaran Nair, chairman, Public Sector Restructuring and Internal Audit Board, has recommended one time fund infusion of Rs. 494.81 crore, Rs. 317.89 crore for capital investment, and Rs. 176.93 crore as working capital for revival of 17 mills in the State with a sustainable development and modernization strategy.

http://www.thehindu.com/todays-paper/tp-national/tp-kerala/revival-strategy-mooted-for-textile-industry/article19079786.ece
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SIMA appeal to release more funds for TUFS

News Tags: appealed to Union government, budgetary allocation, for TUFS to clear dues, meet liabilities of backlog period, release additional funds, Southern India Mills’ Association, subsidy amount, textile units, working capital

Tamil Nadu
SIMA appeal to release more funds for TUFS
Summary: 
The apex body of textile mills in the South, Southern India Mills’ Association has appealed to the Union Government to release additional funds of Rs. 5,500 crore for the Technology Upgradation Fund Scheme to clear the dues (subsidy amount) that need to be paid to the textile units under the scheme.

The apex body of textile mills in the South, Southern India Mills’ Association has appealed to the Union Government to release additional funds of Rs. 5,500 crore for the Technology Upgradation Fund Scheme to clear the dues (subsidy amount) that need to be paid to the textile units under the scheme.

Hundreds of textile units in the country would be shut down if the Technology Upgradation Fund (TUF) subsidy is not released on time, said SIMA.

http://www.thehindu.com/todays-paper/tp-national/tp-tamilnadu/sima-seeks-more-funds/article8367936.ece
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Awassa Textile to undertake 168mn Birr expansion project at its plant

News Tags: Awassa Textile, export to international market, increase production capacity, install new textile machinery, Kenya, semi finished threads, through loan agreement, undertake expansion project, use on capital expenditure, with Development bank of Ethiopia, working capital

Ethiopia
Awassa Textile to undertake 168mn Birr expansion project at its plant
Summary: 
Awassa Textile S.C. plans to undertake a 168 million Birr expansion project at its plant through a loan agreement with the Development Bank of Ethiopia (DBE) that concluded on April 17, 2015. Out of the 168m Birr loan, 134 million Birr will be used on capital expenditure, while the remaining sum is for working capital, said Eyasu Atnafu, general manager of Awassa Textile S.C.

Awassa Textile S.C. plans to undertake a 168 million Birr expansion project at its plant through a loan agreement with the Development Bank of Ethiopia (DBE) that concluded on April 17, 2015. Out of the 168m Birr loan, 134 million Birr will be used on capital expenditure, while the remaining sum is for working capital, said Eyasu Atnafu, general manager of Awassa Textile S.C.

http://www.2merkato.com/news/alerts/3723-ethiopia-awassa-textile-to-start-expansion-project
Company News
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Indian home textiles manufacturer provided with $1mm EARF by DS-Concept Factoring

News Tags: cash cycle, DS-Concept Factoring, export accounts receivable facility, Indian home textile manufacturing, local trade credit advice, trade financing expert, working capital

India
Indian home textile manufacturer provided with $1mm EARF by DS-Concept Factoring
Summary: 
DS-Concept Factoring, an international trade financing expert, striving to ensure the liquidity of exporters has provided a $1 million Export Accounts Receivable Facility (EARF) to a home textiles manufacturer in India.

DS-Concept Factoring, an international trade financing expert, striving to ensure the liquidity of exporters has provided a $1 million Export Accounts Receivable Facility (EARF) to a home textiles manufacturer in India.

http://www.abladvisor.com/press-releases/5848/ds-concept-factoring-provides-1mm-to-indian-textiles-manufacturer
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Reopening of declining Mulungushi Textile comes as a precious gift to people of Kabwe

News Tags: Boost, cotton industry, deal signed, denim plant, investment, job creation, joint venture, MeTL, Mulungush textile, reopening, working capital

Kabwe
Reopening of declining Mulungushi Textile comes as a precious gift to people of
Summary: 
The re-opening of the moribund Zambia-China Mulungushi Textile Joint Venture seven years after it was shut has come as a special gift to the people of Kabwe in this Jubilee year.

The re-opening of the moribund Zambia-China Mulungushi Textile Joint Venture seven years after it was shut has come as a special gift to the people of Kabwe in this Jubilee year.
 
The factory has been leased to Mohammed Enterprises Tanzania Limited Group (MeTL) for a period of 12 years. The new investor will in the next three months assess the condition of the machinery at the plant, before resuming operations at the textile plant.
 

http://www.daily-mail.co.zm/index.php/editorial/comments/item/7149-textile-re-opening-a-jubilee-gift
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