Home / Knowledge / News / Textiles / Turkish textile companies plan relocation to Ethiopia
Turkish textile companies plan relocation to Ethiopia
08
Aug '13
Around 50 Turkish textile and apparel companies are planning their relocation to Ethiopia, after Ayka Addis Textile and Investment Group submitted a proposal to establish an industrial zone in the country.
 
The proposal was submitted to the Ministry of Industry and has been already accepted, and the Government of Ethiopia is currently allocating land around the capital city of Addis Ababa for the industrial zone.
 
The relocation of the companies is expected to create US$ 2 billion per annum in revenue and more than 60,000 job opportunities in Ethiopia.
 
The construction of the zone would take place in three phases and would be overseen by the Ayka Group. The zone will consist of several five-storey buildings, which would be rented or sold to the new companies that are planning to relocate.
 
The project is expected to significantly contribute to the Ethiopian Government’s plan to double the export revenue for the next budget year.
 
Ayka Addis Group’s factory in Addis Ababa, which went operational in 2010, has a capacity to export textile products worth US$ 100 million per annum. The factory employs more than 10,000 local residents. 
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search