Malawi President Recently Inaugurated a Cotton Ginnery Worth US$ 20 Million in Ngabu

The President of Southeast African country of Malawi, Joyce Banda, recently inaugurated a cotton ginnery worth US$ 20 million, in the Ngabu region.
 
The cotton ginnery was constructed with aid from Government of India, as a part of the US$ 50 million Line of Credit granted by India to Malawi.
 
Addressing at the event, the President said the cotton ginnery would stimulate and enhance cotton production and also increase smallholders’ income in the country, reports Malawian newspaper Nyasa Times.
 
President Banda said that cotton has the potential to transform the country within a short time in the light of its multifaceted nature as the lint can be used for textile and clothing while the seeds can be used for edible oil and animal feed production.
 
President Banda also thanked the Indian Government, the Indian High Commission and Apollo International Ltd. for making it possible to set up the ginnery stating that such collaborations showed that Malawi has close relationship with other countries far and near.
 
The Ngabu ginnery, once it starts operating at full capacity, is expected to add three times to the value of raw cotton, which is being exported from Malawi at present.
 
The export of raw cotton is also expected to earn the country US$ 20 million per annum in foreign exchange and provide employment opportunity to about 200 people directly, and several hundreds more indirectly.