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Donors and govt of India plan to invest more than Sh4 bn at Rivatex

Related Keywords: create more dire jobs, Donors including government of India, garments produced by the revived, increase cotton production, phase two expansion plan, plan to invest sh four billion, Rift valley textile company, Rivatex in Eldoret, selling at outlets in the country, to modernise machinery and expand the factory

Donors including the government of India is planning to invest more than Sh4 Billion in phase two expansion plan of the Rift Valley Textile Company ( Rivatex) in Eldoret which is likely to increase the region's cotton production and create 2,000 more direct jobs. The firm has 600 workers.

Investors want more farmers in Western and Rift Valley to venture into cotton farming to produce enough raw materials to sustain it.

India to provide funding for the Rivatex revival and expansion project

Related Keywords: cotton shortage, Export-Import Bank of India, financing agreement, Kenyan government, Rift valley textile company, Rivatex revival

India showing interest in revival and expansion of the Rift Valley Textile Company Ltd (Rivatex) currently owned by Moi university Company, which acquired and revived it after it collapsed.

India will sign a financing agreement with the Kenyan government once it is satisfied with the firm's revival. The Export-Import Bank of India will provide funding for the planned expansion of the textile company. Rivatex's operations will be expanded at a cost of Sh7.9 billion.

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