New Nigerian Development Company (NNDC) and Turkey-based, SUR Company, held extensive discussions at the weekend centered on a $15 million partnership to resuscitate the Kaduna Textiles Limited (KTL).
The textile company, owned by the 19 Northern states, has been moribund since the 1990s following its inability to meet up with rising costs of production coupled with poor management, but the latest efforts are aimed at revitalising the textile company to enable it create jobs for the teeming youth and boost the economy of the region.
Speaking after the discussion with top officials of SUR Company, the Executive Director Investment, NNDC, who is also the Chairman, Restructuring Committee of KTL, Alhaji Ali Gombe, said SUR had indicated their willingness to enter into partnership with NNDC towards investing in the KTL.
According to him, SUR will provide 35 per cent of the total funds, while the remaining 65 per cent will be jointly contributed by the federal government and the 19 Northern states.
He said “when the agreement is finalised, the Kaduna Textiles Limited will start producing military and paramilitary uniforms,” adding that “KTL will also go into production of other garments to come back to full production.”
Gombe described the move to revitalise KTL as “a laudable achievement” which, he stressed, “in the long run will help turn around the fortune of the company as well as impact positively on the socio-economic development of Northern Nigeria and the country as a whole.”
