ETG Parrogate Group (ETG) this week unveiled four major strategic investment projects in Zimbabwe in the areas of textiles, agriculture, agribusiness and health.
Through its subsidiary Agri Value Chain Zimbabwe (AVCZ), ETG Parrogate has started implementing the David Whitehead Textile Limited (DWTL) turnaround plan, which will be funded to the tune of $20 million.
The process, which involves upgrading DWTL’s Chegutu and Kadoma plants, has already begun in earnest with a view to transforming the business into a world-class operation.
Over the past 20 years, ETG has invested over US$150 million in Zimbabwe.
DWTL, once Zimbabwe’s largest textile company, has been largely inactive for nearly two decades, subjecting it to three different court processes since 2005.
The revived textile factory will have the capacity to produce 10 million meters of fabric per year.
AVCZ has also commissioned an integrated oilseed processing complex, the first of its kind in Zimbabwe. The multi-million dollar plant includes a cotton ginning plant with an annual ginning capacity of 250 tons per day. The state-of-the-art oil extraction plant can crush cottonseed, soybean, sunflower and canola seeds.
The complex’s modern refinery can process all types of edible oils, including crude palm.
The integrated complex also has a textured vegetable protein factory to produce soy chunks.
In order to ensure enough raw materials for the oil extraction plant, AVCZ is embarking on a 100,000 hectare sunflower program where rural farmers will receive free inputs, making it probably the largest intervention in the world. a private investor.
In order to give back to the community, AVCZ, with funding from its shareholders, is building a hospital for the community of Chegutu for US$1.5 million. The hospital will have 24-hour emergency services, an emergency section, a 40-bed admission section, an intensive care unit, pediatric, surgical and medical services and is expected to be completed by the middle of next year.
President Mnangagwa, who was represented by Industry and Commerce Minister Dr Sekai Nzenza at the unveiling ceremonies in Chegutu on Wednesday, said the government remained committed to creating an environment that would create opportunities for businesses of the private sector “to grow and prosper”.
“It is pleasing to note that David Whitehead is now out of court management and all debts have been paid,” President Mnangagwa said.
“Allow me to salute your sincere efforts to resuscitate David Whitehead Textiles and I am reliably informed that the company is implementing Phase 1 of its resuscitation program, into which US$10 million has since been injected.
“I am also informed that the first batch of capital goods is expected to arrive next month while Phase 2 will commence in May next year,” President Mnangagwa added.
He said the oilseed crushing plant is poised to make a significant contribution to the inclusive and sustainable national development of Mashonaland West province.
Regarding the smallholder sunflower program, the president said the project is part of the government’s drive to improve food and nutrition security. “In this regard, I challenge other players in the agribusiness sector to emulate your hard work so that the country achieves self-sufficiency in the production, not only of edible oilseeds, but other cereals such as maize and wheat,” said President Mnangagwa,
Commenting on the new investments, ETG Parrogat Managing Director, Birju Patel, said: “We have been operating in the country for two decades and this has enabled us to establish new cotton gins in Checheche and Glendale, while that we have also taken over former cotton ginning factories. in Sanyati, Chegutu and Rushinga.
“These gins had all stopped working and our investment and intervention brought them back to life and are now fully functional.
“Additionally, our investment in David Whitehead Textile will see the company become an integrated cotton value chain enterprise in line with the Government of Zimbabwe’s vision for value addition and job creation, with a presence in all facets of the value chain, from agriculture to ultimate value addition.It is important to highlight that all these investments, including the integrated oil extraction plant in Chegutu, have created more than 3,000 direct jobs in the country – Weekly Affairs