Indian govt invests Ksh 2.9B in Rivatex East Africa Limited

Rivatex East Africa Limited is expected back in operation within the next two months following a Ksh 2.9 billion investment by the Indian government.

The Indian High Commissioner to Kenya  Rahul Chabra says reviving the Eldoret based textile factory is part of India’s credit line to enhance the Kenyan government’s big four agenda.

The Indian Government has loaned Eldoret based Rift Valley Textiles the funds that have been invested in the modernization of the factory.

This is part of the Ksh 5 billion required to fully modernize the factory.

India’s High Commissioner to Kenya Rahul Chhabra says the investment facility in Rivatex is separate from the already signed 10 billion shillings loan facility that will see India finance agricultural mechanization in Kenya.

India and Israel will also offer scholarships and training targeting young farmers to mitigate against an aging agriculture workforce.

Agriculture Cabinet Administrative Secretary Andrew Tuimur says he plans to regularly provide farmers with high yielding quality seedlings to boost agricultural production.

  

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