GROWING OF COTTON
BRITISH FIRM'S PROJECT Received Tuesday, 9.10 p.m. LONDON, Oct. 29. A lutge British textile firm proposes to withdraw its interests " from Egypt and grow cotton in the Lake Eyre district, South Australia. With textile fac ories already in Lancashire, South Ai'rica and Canada, it intends also to estahlish a large plant near Sydney. The firm is seeing a 5000 acre factory site on which it will huild 1000 homes for its operatives. A junior company, British and Australia Development Proprietary, Ltd., has heen formed to handle the building activities. More than 2000 skilled textile workers will he hrought to Australia to start the enterprise. The firm issued a statement today that it was forced to leave Egypt because the Egyptian Government was demanding 10 per cent. eontrol of all foreign capital invested there. The importation of raw material from Egypt will continue during the initial stages hut an early start will he made with • local growing. Another large British textile firm is also looking for a factory site.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19461030.2.25
Bibliographic details
Chronicle (Levin), 30 October 1946, Page 5
Word Count
171GROWING OF COTTON Chronicle (Levin), 30 October 1946, Page 5
Using This Item
NZME is the copyright owner for the Chronicle (Levin). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in