Last week, Mali signed a memorandum of understanding with China to install two spinning units and a recovery plan for the Compagnie malienne des textiles (Comatex-Ss). Mali is thus showing the desire to develop the added value of its cotton.

For a total capacity of 45,000 tons of cotton fiber to be transformed into yarn, including 20,000 tons in Koutiala and 25,000 tons in Bamako, the spinning mills will be carried out by the Chinese company Qingdao in partnership with the Malian Textile Fiber Development Company (CMDT). The Malian Spinning Company (Somafil) was created with a capital of 200 million euros, 85% of which was owned by the CMDT and the balance by the Chinese partner Qingdao for the implementation of these spinning mills.

The cost of the investment will be around $354 million taking into account all related investments, especially in transport, in electricity between the Koutiala power plant and the location of the factory, the establishment of two power plants etc.according to the Minister of Economy and Finance, Alhousseyni Sanou.