ONE of India’s biggest and international acclaimed textile firms Shreejikrupa Spinners is considering investing over $40 million towards setting up a plant in Bulawayo soon.
Industry and Commerce Deputy Minister Raj Modi told Sunday News Business that the Indian had shown interest in setting up a polyester manufacturing plant in Bulawayo. This comes after his successful business tour of the Asian country two weeks ago.
“I can confirm that Shreejikrupa Spinners has indicated intention to come and set up a polyester plant here in Bulawayo whereby the company will come with the latest technology of recycling plastic into polyester,” he said.
A number of textile players in most developed countries have resorted to recycling plastic bottles into soft polyester thread to make eco-friendly clothing.
Plastic bottles are made of polyethylene (PET), a form of polyester that is mostly associated with a fabric used in clothing and interiors. However, both are actually polymers, a derivative of fossil fuels. The fabric made out of the PET fibre is basically polypropylene and it is ten times stronger than a normal polyester fabric.
“The company officials expressed interest to come for feasibility studies as early as next month thus they are only waiting for us to give us the nod to visit the country. If they are satisfied with the prospects of recouping their investment they are likely to pour in as much as over $40 million into the project,” said Dep Minister Modi.
He said the project was expected to play a massive impact in the revival of Bulawayo’s industry and contribute immensely to the country’s economic turnaround efforts.
“The project will obviously benefit Bulawayo immensely in terms of employment creation, not only from it but downstream industries as well. It will obviously fill the massive void of unemployment, which has been accelerated by the effects of de-industrialisation. On the other hand the investor we are talking about has big capacity to fulfil the local demand for polyester because at the moment we are relying on imports,” said Dep Minister Modi.