FG Engages Dutch Firm On Textile Industry Investment
BY COBHAM NSA, ABUJA – The Federal Government’s commitment to revitalize the cotton textile industry has received major boost with a Dutch textile and design firm, Vlisco Group magnifying its proposed investment in the sector.
Rising from high-level talks with the Minister of Finance, Mrs Kemi Adeosun in Abujaon Tuesday, Chief Executive Officer of Vlisco Group, Mr David Suddens said their investment would engender growth and create jobs across the entire value-chain from cotton to fashion in Nigeria.
The group’s investment drive got assurances from Mrs Adeosun that government will encourage and support sustainable value addition along the entire cotton, textile and garment sub-sector towards creating jobs and wealth for Nigerians as well as promoting technology transfer in the country.
The Vlisco Group Chief said the company is participating across the sector value chain from sourcing of cotton; textile printing; wholesale; retail and e-commerce distribution; and garment manufacturing as well as supporting and training of Nigerian fashion designers.
According to Suddens, “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 garment.”
He further stated that the group is collaborating with two spinning and weaving companies in China and Pakistan to re-build the Nigerian cotton textile industry for effective service delivery, adding that; “The two partners are very serious industrialists with first-class operations in their own countries. Both are prepared to move quickly if Vlisco guarantees the purchase of their output, and if agreement can be reached on the details of the Nigerian operation.”
Giving further details on the pact, Suddens said both business partners would commence operations with a weaving mill of between 120 and 140 looms, with each mill producing approximately 12 to 15 million metres of cotton fabric annually.
The Vlisco Group boss also stated that; “Once success is established, both partners will integrate backwards into spinning. The first spinning mills will be for 25,000 spindles, producing yarn for approximately 20 million metres of fabric, just as he added that; “These mills will then be doubled in size to 50,000 spindles and the weaving mills will also be doubled to 240-280 looms for each factory.”
In her remarks, Minister of Finance, Mrs Kemi Adeosun, who expressed delight at Vlisco’s investment proposal in the cotton textile industry, said the Buhari administration would do all within its scarce resources to revamp the nation’s textile industry.
Adeosun, who described Nigeria as an investor-friendly environment with huge potential for returns on investment, challenged the Dutch company to embrace the Federal Government’s incentive packages in the cotton, textile and garment sub-sector to expand their brand portfolio in the country.
Established in Helmond, the Netherlands, in 1846, Vlisco Group designs, produces and distributes fashion fabrics for the West and Central African market and African consumers in global metropolitan cities.
Vlisco Group and their fabrics have become a vital part of African culture, with widespread attention from the art, design and fashion worlds. Its brand portfolio comprises four (4) brands: Vlisco, Uniwax, GTP and Woodin.
