Directors and Partners of Fine Spinners Uganda gathered on Wednesday, 17th December to open a multi-million dollar textile factory. It sets the stage as the first field-to-fashion, fully integrated supply chain for the Plexus Group, which is one of three major investors.
It is a cornerstone of our five year strategic plan and is designed to help revive Uganda’s once booming cotton agriculture sector.
Fine Spinners Uganda is located in Bugolobi, a Kampala suburb.
The factory was opened by President Museveni and First Lady & Karamoja Affairs Minister, Janet Museveni. In his speech the President committed the government’s support through reduced electricity rates for manufacturing; a continued supply of raw cotton for local consumption (including buffer cotton stock); textile ‘upgradation’; VAT exemption and a “Buy Uganda/Build Uganda” policy.
All of these initiatives are part of the Uganda National Textile Policy signed in 2009 to develop local consumption. The President and his Government are committed to achieving the benefits of the AGOA project in Africa and to supporting investors coming into the country.
Jaswinder Bedi (Director at Fine Spinners) said the new factory multiplies the value of Ugandan cotton lint and will generate 15 times more export revenue for the same cotton.
He added that the investment, when fully operational in two years, will contract 30,000 small- holder farmers in Kasese and Mbale, in addition to employing 3,000 workers at the Bugolobi factory.
Fine Spinners will manufacture finished products and export 90% of them to Europe, the USA, Canada, Australia, Japan and the East Africa Region.
The opening event was supported by global brands (including PVH and Jack and Jones,) other Agricultural Ministers and dignitaries including Rosa Whitaker from Washington, D.C. representing AGOA.