Dutch textile and design company, Vlisco Group, on Tuesday, held high-level discussion with the Minister of Finance, Mrs Kemi Adeosun, over its proposed investment in the Nigerian cotton textile industry.
Its Chief Executive Officer, Mr David Suddens, who led the group’s delegation to the meeting with the minister in Abuja, said the investment would boost growth and create jobs across the entire value-chain from cotton to fashion.
Suddens said the group planned to participate in the sector’s value chain from sourcing of cotton, textile printing, wholesale, retail and e-commerce distribution, garment manufacturing and supporting and training of Nigerian fashion designers.
He added that “Vlisco foresees an end-to-end involvement in the Nigerian textile industry from cotton sourcing to retail.
“We are expecting this investment to yield benefits for the Nigerian economy in terms of economic diversification and job creation in line with the country’s Industrial Revolution strategy.
“Vlisco Group’s activities are expected to generate more than 10,000 jobs in Nigeria in the medium term.
“We also envisage a Vlisco printing factory in Nigeria, using Nigerian designs for the Nigerian consumer, retail outlets selling Vlisco products and trained tailors sewing Vlisco fabric into garments.”
Suddens said that the group had formed partnership with two spinning and weaving companies based in China and Pakistan to build the Nigerian cotton textile industry.
The two partners, according to him, are expected to start operations with a weaving mill of between 120 and 140 looms, with each mill producing approximately 12 to 15 million meters of cotton fabric annually.
“Once success is established, both partners will integrate into spinning. The first spinning mill will be for 25,000 spindles, producing yarn for approximately 20 million meters of fabric.
“The mill will then be doubled in size to 50,000 spindles and the weaving mill will also be doubled to 240-280 looms for each factory.”
The Minister of Finance, Mrs Kemi Adeosun, expressed delight at Vlisco’s proposed investment in the cotton textile industry.
She said Federal Government was committed to revitalising the cotton industry.
She said government would stimulate and support sustainable value addition along the entire cotton, textile and garment sub-sector to create jobs and wealth for Nigerians and enable technology transfer.
She urged the investor to take advantage of Federal Government’s incentives for the cotton, textile and garment sub-sector to expand its brand portfolio.
The Vlisco Group is well known for its fabric designs, distributed to West and Central African markets and African consumers in global metropolitan cities.
Founded in Helmond, the Netherlands in 1846, Vlisco Group and its fabrics grew into essential part of African culture, receiving widespread attention from the art, design and fashion worlds.
Vlisco Group’s brand portfolio consists of 4 brands: Vlisco, Woodin, Uniwax and GTP. (NAN)