Yangtze Industry Ltd has expanded its operations with a new glue manufacturing plant at the Sino-Uganda Mbale Industrial Park. The facility was officially opened by Minister of State for Local Government, Balaam Barugahara, in a ceremony attended by industry stakeholders and Exim Bank Uganda executives. The plant is expected to boost domestic production, create employment opportunities, and increase the company's capacity to serve Uganda and the wider region.
The Minister of State for Local Government, Balaam Barugahara, commended Yangtze Industry for investing in local manufacturing, citing its contribution to Uganda's industrialisation and job creation. He also recognised Exim Bank Uganda for financing the project, highlighting the importance of partnerships between financial institutions and private businesses in expanding the country's productive capacity.
Exim Bank Uganda played a crucial role in supporting the investment through financing. The bank's Deputy Chief Executive Officer, Anthony Mariiro, along with Head of Business Banking Francis K. Mulero and Relationship Manager Proscovia Mwanje Nabulya, attended the ceremony. The bank's support for the project is part of its strategy to build long-term partnerships with businesses by providing financing and financial solutions.
The launch of the glue manufacturing plant is expected to have a positive impact on the local economy. The facility will not only create employment opportunities but also contribute to the growth of the manufacturing sector. The Minister emphasised that private-sector investment and access to financing remain critical to the expansion of manufacturing and other productive sectors.
The Sino-Uganda Mbale Industrial Park, where the facility is located, is a key hub for industrial activities in the region. The park provides a conducive environment for businesses to operate, with infrastructure and amenities that support the growth of industries. The addition of Yangtze Industry's glue manufacturing plant is expected to enhance the park's reputation as a hub for industrial production.
The ceremony concluded with a tour of the manufacturing facility and a networking session involving business leaders, trade partners, and other stakeholders. The event brought together industry stakeholders to witness the launch of the new facility and explore potential opportunities for collaboration and growth.
The launch of the glue manufacturing plant by Yangtze Industry Ltd marks a significant milestone in Uganda's industrialisation journey. With the support of Exim Bank Uganda, the facility is poised to make a positive impact on the local economy and contribute to the growth of the manufacturing sector.
Key points
- The new facility is expected to strengthen domestic production while creating opportunities for employment and expanding the company’s capacity to serve markets in Uganda and the wider region.
