Chinese company to build huge textile factory in Ethiopia with investment over USD500

A four person Chinese business delegation led by Kong Xiangjun, Board Chairman of Giangsu Lianfa Textile Company Limited has disclosed that it has finalized pre-investment assessment to build a huge textile factory in Addis Ababa with over 500 million USD.

On the occasion, Xiangjun told President Mulatu Teshome that his company has decided to invest in Ethiopia after making similar pre-investment assessments in Kenya, Uganda, and Tanzania.

The textile industry would create more than 20,000 jobs when it goes operational.

Ethiopia’s cheap labor and electricity, vast arable land as well as various quota and duty free opportunities to the U.S and EU market would make the company profitable.

Moreover, textile being among priorities for the Ethiopian Government, Pesident Mulatu said that the government would provide all the necessary support for the company.

Recent Posts

University of Copenhagen develops nanofibre patch for psoriasis treatment

Researchers have created an innovative nanofibre patch that aims to simplify and improve the treatment of psoriasis, a common skin…

4 hours ago

Clothing 2.0, The Marena Group to revolutionize medical garments

Clothing 2.0 has teamed up with The Marena Group LLC, a leader in medical-grade compression garments to transform the recovery…

4 hours ago

Polartec expands eco-friendly weather protection fabrics

Polartec has enhanced its Power Shield range, as it continues to replace petroleum-based materials with renewable alternatives while improving fabric…

4 hours ago

Uncaged Innovations partners to launch leather alternative

Biomaterial company, Uncaged Innovations, has collaborated with ten independent fashion brands to launch Elevate, a new eco-friendly luxury leather alternative.

1 day ago

Rudolf enhances digital pigment printing

Rudolf introduced the Digital Pigment Printing Toolbox, a package of pre-treatment products to improve the quality and sustainability of pigment…

1 day ago

Aquafil Group unveils sustainable yarns

Aquafil Group, the innovator behind ECONYL regenerated nylon, has launched the ECONYL Bespoke Collection that mimic the aesthetics of natural…

1 day ago