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Portuguese-Mozambican consortium expands textile business in Mozambique
4:29 CAT | 01 Sep 2016
Mozambique Cotton Manufacturers (MCM), a consortium of one Mozambican and three Portuguese companies, plans to invest about US$35 million to expand the business, according to a statement issued in Maputo.
MCM, consisting of Mozambican companies Intelec Holdings and Portuguese companies Mundotêxtil, Mundifios and Crispim Abreu, has invested nearly US$20 million for the installation and operation of the units, and the amount now announced will serve mainly to add weaving, dyeing, sewing and other support equipment.
The Director-General of MCM, André Vieira, said the company is currently exporting 100% of production to Portugal and South Africa and is considering expansion to countries of the Southern African Development Community (SADC), according to Mozambican news agency AIM.
Vieira also mentioned the US market, a country with which Mozambique has an agreement to facilitate exports.
The cotton used by MCM is provided by Plexus, a company present in the province of Cabo Delgado that aggregates the production of small farmers, Olam in Manica and Sofala, small operators in the centre of the country and across the country the João Ferreira dos Santos Group.
Source: Macauhub
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