Southern Range invests $2.65m
Feb 14, 2003
Companies working solely under the African Growth and Opportunity Act (AGOA), are to be grouped into Export Processing Zones (EPZs).
By Vision Reporter
Companies working solely under the African Growth and Opportunity Act (AGOA), are to be grouped into Export Processing Zones (EPZs). AGOA is a US government policy that favours African exports to the US market duty/quota free.
While commissioning the new spinning and garment equipment at Southern Range Nyanza Limited on Wednesday, President Yoweri Museveni said: “We shall have the law and the Minister will just give a word and by March, we shall declare your area an EPZ.â€
Museveni was reacting to Viren Thakker, the Southern Range managing director’s, request for this status.
He said their company’s initial AGOA order would be shipped to the US by the end of this month.
The $2.65 new investment is aimed at improving the company’s capacity to produce better quality and higher quantities of fabrics and garments.
Museveni commended the Southern Range management for their entrepreneurial zeal.
Thakkar said the company has a modernisation programme for spinning more cotton, which will create a higher demand for local cotton.
The chairman, Kishor Jobanputra guided Museveni around. Thakkar requested government to advance them sh5b for its development programme. Museveni told him to discuss the issue with the Ministry of Finance.
Companies working solely under the African Growth and Opportunity Act (AGOA), are to be grouped into Export Processing Zones (EPZs). AGOA is a US government policy that favours African exports to the US market duty/quota free.
While commissioning the new spinning and garment equipment at Southern Range Nyanza Limited on Wednesday, President Yoweri Museveni said: “We shall have the law and the Minister will just give a word and by March, we shall declare your area an EPZ.â€
Museveni was reacting to Viren Thakker, the Southern Range managing director’s, request for this status.
He said their company’s initial AGOA order would be shipped to the US by the end of this month.
The $2.65 new investment is aimed at improving the company’s capacity to produce better quality and higher quantities of fabrics and garments.
Museveni commended the Southern Range management for their entrepreneurial zeal.
Thakkar said the company has a modernisation programme for spinning more cotton, which will create a higher demand for local cotton.
The chairman, Kishor Jobanputra guided Museveni around. Thakkar requested government to advance them sh5b for its development programme. Museveni told him to discuss the issue with the Ministry of Finance.