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Ethiopia's Adama Industrial Park starts exports
08 Jan '19
1 min read
Ethiopia’s Adama Industrial park has started exporting its products, with Chinese textile firm Antex Group turning the first in the park to start exporting its swimwear to Europe. Antex and another firm have began operations, while three others will do soon, according to Lelise Neme, chief executive officer of the Industrial Park Development Corporation (IPDC).
The park, located 93 kilometres southeast of Addis Ababa in the Oromia region, was officially inaugurated last October.
Antex, which is expected to generate $100,000 from its first export consignment from the park to Europe, has created jobs for 1,500, according to group chairman Qian Anhua. The number is expected to reach 10,000 when the company goes fully operational.
The firm has raised its capital $to 50 million from $5 million, according to a report in an Ethiopian daily.
The first phase of the park built at a cost of $147 million covering 102 hectares was commissioned by the IPDC. (DS)
The park, located 93 kilometres southeast of Addis Ababa in the Oromia region, was officially inaugurated last October.
Antex, which is expected to generate $100,000 from its first export consignment from the park to Europe, has created jobs for 1,500, according to group chairman Qian Anhua. The number is expected to reach 10,000 when the company goes fully operational.
The firm has raised its capital $to 50 million from $5 million, according to a report in an Ethiopian daily.
The first phase of the park built at a cost of $147 million covering 102 hectares was commissioned by the IPDC. (DS)
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