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Related Keywords: global Swedish clothing manufacturing company, growing manufacturing sector, H&M, increase its economic ties with Ethiopia, keen interest to enter, lot of Swedish companies, Swedish Ambassador Jan Sadek, textile industry in Ethiopia

A lot of Swedish companies including the global Swedish clothing manufacturing company H&M has keen interest to enter the growing manufacturing sector, textile industry in Ethiopia, said the outgoing Swedish Ambassador Jan Sadek.

Sweden also seeks to increase its economic ties with Ethiopia.

This hopefully will be important in terms of raising hard currency, catalyzing the industrial development of Ethiopia and in creating massive jobs. These opportunities further enhance the two countries economic cooperation, according to the Ambassador.

Related Keywords: denim fabric, denim manufacturing in Africa, denim plant, denim plant capacity, long-staple cotton, tax incentives in textile, textile industry in Ethiopia

Kanoria Africa Textiles Plc, a wholly owned subsidiary of Kanoria Chemicals & Industries Ltd, has set up an integrated denim project at Bishoftu, Ethiopia.

This plant in Ethiopia has set up to manufacture denim fabric, which is the first such project in East Africa.

The plant has 16 acres of land 50 km off the Ethiopian capital Addis Ababa.

The plant has set up at a cost of $50 million which will have the capacity of producing 12 million metres annually.

The unit has spinning (1440 rotors), weaving (60 looms) units, a dyeing facility and a finishing line.