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Ethiopia outlines plans to set up new textile projects

31
Mar '12
The Government of Ethiopia has revealed plans to increase its revenues from the textile sector by setting up new projects.

As per the plan, 46 new textile projects will be launched by 2015, increasing the revenues from the sector to US$ 2.5 billion.

While 6 of these projects are expected to go operational during 2012-13, another 18 are slated for launch in 2013-14.

The proposed projects include setting up of two cotton ginning industries, four spinning industries, one knitting facility, seven weaving industries and one finished woven textile facility.

The plan also includes proposal for investing in existing projects in the apparel sector, which includes investment in two knitted garment industries and three woven garment industries.

Further, the plan also aims at enhancing the textile and clothing sector's earnings through capacity building and using existing factories to draw fresh investments.

The new projects also correspond to the estimates of enhancing the number of spindles in the industry from existing 236,852 to one million, increasing the number of stitching machines for knitting and weaving from 9,000 to 20,000 and the number of looms from 1,336 to 5,000.

The new projects will require substantial workforce, which can be easily trained and employed at low cost, as compared to other textile producing countries in Asia and Africa.

Projections of bilateral and multilateral trade agreements like the African Growth and Opportunity Act (AGOA) initiated by the US, and other agreements with Russia, Yemen and countries in the Gulf region have also been considered while framing the plan.

Fibre2fashion News Desk - India


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