The New Nigeria Development Company (NNDC) says it has perfected plans to resuscitate the Kaduna Textile Limited (KTL) by investing about $15 million dollar through a partnership with Sur International Textile, a Turkish firm. The Group Managing Director of NNDC, Dr Ahmed Musa made this known to newsmen after a crucial meeting with the Turkish officials and representative of Sur International Textile, at the Company's office in Kaduna.
According to him, the partnership will see the Turkish firm investing 35% of the amount will the Federal Government and KTL will contribute 45% and 20% of the funds respectively. He also disclosed that in the interim, KTL would focus on the production of Uniform for the military, police and other paramilitary organizations.
“We held a private meeting with a team of delegation from Turkey. They want to invest in Kaduna Textile and turn it around. In summary, they want to start producing military and paramilitary uniforms for members of the Nigerian Armed Forces”
He expressed optimism that the KTL will boost the economy of the state and address unemployment in the area.
The KTL had closed down since 2000 over the reported financial crisis, poor power supply and other infrastructural issues.
