US$15m injection to resuscitate DWTL operations expected March next year

US$15m injection to resuscitate DWTL              

operations expected March next year                                          

Staff Reporter

 Government has promised to resuscitate David White Head Textiles Limited (DWTL) in March next year as the nation gears towards attaining its Vision 2030, Harare Post has learnt.

A source revealed that DWTL would be resuming operations next year in March following an injection of US$15 million from an Indian investor, Agri Value Chain Zimbabwe (AVCZ).

“The Second Republic under the administration of President Emmerson Mnangagwa is making us proud. Investors continue to trickle in the country because of its policies. The policies of the administration of President Mnangagwa have boosted confidence in the global world.

“David White Head Textile Limited (DWTL) is now expected to resume operations next year in March. Praduman Ganediwal, an Indian investor would be resuscitating the textile company through his company called Agri Value Chain Zimbabwe. Ganediwal has so far injected US$15 million to DWTL through the purchase of modern equipment,” revealed the source.

The source revealed that so far, the old equipment has since been removed from the DWTL Company and would soon be replaced with new high-performance modern equipment. He added that the majority of the new equipment had already been received at the company premises with the remainder expected by end of this month.

DWTL is made up of the Kadoma spinning division and the Chegutu fabric factory.

The revival of DWTL would see an increase in the number of the company`s workforce. Currently there are about one hundred employees at the company which used to employ 1 500 people at its peak.

According to the source, the company would first resume weaving and fabric dying for the domestic and export market. The source further said that the company would resume supplies of fabric to the Zimbabwe National Army, Zimbabwe Republic Police and the Prison Services for the production of their respective uniforms.

DWTL, through its investor AVCZ, has ginneries in Rushinga, Checheche, Glendale, Chegutu and Sanyati.

Economic analysts have commended this positive development highlighting that it would boost the economy through creating employment opportunities as well as increasing foreign currency earnings from exports adding that the Government would also benefit from corporate and income tax receipts.