METL GROUP TO INJECT AN INITIAL $10 MILLION INTO A ZAMBIAN TEXTILE FIRM

MeTL Group chairman Gulam Dewji

Tanzania based company, MeTL Group, is set to inject an initial $ 10 million into the Zambia-China Mulungushi Textiles Joint Venture (ZCMT-JV) and create about 2,000 jobs.

This came to light on Wednesday during the signing of the leasing agreement by ZCMT-JV board vice-chairperson Rosemary Salukatula and MeTL Group chairman Gulam Dewji in Kabwe.

Ms. Salukatula, who represented both the Zambian government and Qingdao Textiles Holding Group Company Limited, said the agreement involves leasing of the ZCMT-JV plant and equipment for 12 years.

“We are able to sign this lease agreement because the company is in a condition that it can be taken over by another investor,” Ms. Salukatula said.

And Mr. Dewji said the company is in Zambia for serious business. “We will make sure that employment in cotton and textile industry is met,” Mr. Dewji said.

He promised that MeTL Group will work within the laws of Zambia and maximize performance.

According to Mr. Dewji, the textile production will start in three months’ time after plant rehabilitation. He said that the ZCMT-JV will be renamed MeTL Mulungushi Textiles.