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Home / Knowledge / News / Textiles / Spinning mill opened at a cost of US $50 million

Spinning mill opened at a cost of US $50 million

27
Oct '08

A spinning mill, part of an integrated Turkish textile group, Ayka Addis Textile and Investment Group was recently started in Alemegena, Oromia province and set up at a cost of over US $50 million.

Minister of Trade and Industry, Girma Biru, and Oromia State Chief Abadula Gemda inaugurated the factory. The Minister while speaking on the occasion said that new textile mill demonstrates the resolve of the government in the nation's development. He said the government was working towards attracting more such foreign investments.

According to the directors of the company, this unit has the capacity to process 20 tons of cotton per day and when fully operational will provide 1,000 jobs by end of 2009. They also said that they had received a lot of support from the administration and all the work related to setting up the mill had gone off smoothly.

They added by saying that they were initially attracted by the conducive environment and opportunities available in the country and would try to promote more investments in Ethiopia.

Fibre2fashion News Desk - India

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