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 Alal Textile Company, located in the town of Goya Corrientes, plans to invest US $7 million in a new cotton ginning plant, which will provide jobs to around 35 employees.
The investment would be carried out with financial support from the provincial government, for which, all agreements have been signed.
Alal has requested the provincial governor to ensure that the ginning plant receives continuous supply of electricity in order that they may maximise efficiency.
Of the $7 million investment, $4 million will go towards the purchase of machinery and technology, and the rest will be spent on building infrastructure.
Alal has requested for a pay-back period of five years at subsidized interest rates from the government, to support the economic viability of the ginning plant.
This is the third textile plant of Alal and it also owns spinning facilities to produce 100 percent cotton yarn, from the cotton that is ginned at its own plants.
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| Fibre2fashion News Desk - India |
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