Home / Knowledge / News / Textiles / Turkish firm to build $175mn textile plant in Ethiopia
Turkish firm to build $175mn textile plant in Ethiopia
27
Mar '14
Turkish textile manufacturing firm Akber is set to construct the biggest textile plant worth US$ 175 million in the Ejere town of the Oromia region of Ethiopia, as per the Ethiopian Textile Industry Development Institute (TIDI).

Banteyihun Gessesse, director of communications of TIDI, said during a press conference in Addis Ababa, that the textile giant has already secured a 13.5 hectare plot of land in the town on which the factory would be built.

According to the TIDI official, the new textile plant, the construction of which would take at least two to three years, is expected to create around 9,000 to 10,000 jobs in the region, which is larger than any operating textile factory in the country.

The Turkish firm expects to make its annual production capacity worth $90 million, on completion of the textile plant in Ethiopia, and is currently undertaking a project study that will enable it to secure loans from the Development Bank of Ethiopia (DBE), the TIDI official added.

Last year, several Turkish companies showed interest in setting up their production units in Ethiopia, after a proposal by the Ayka Addis Textile and Investment Group for establishing an industrial zone in the country was accepted by the Ministry of Industry.

The relocation of the Turkish companies is expected to create US$ 2 billion per annum in revenue and more than 60,000 job opportunities in Ethiopia.

Fibre2fashion News Desk - India


Interviews View All

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

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

Top executives, Textile industry

Top executives
Textile industry

Technical textiles industry moving back to Europe

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

Leave your Comments


November 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search