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


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 29th Oct 2020

Bangladesh restored 40% of cancelled RMG orders: minister

Bangladesh foreign minister AK Abdul Momen recently said the...

Pic: Shutterstock

Textiles | On 29th Oct 2020

Uzbek trade body, Indonesian textile firm mull cooperation

Representatives of the Uzbekistan Textile and Garment Industry...

Pic: Shutterstock

Textiles | On 29th Oct 2020

PRC unofficially boycotts Australian cotton, imports halt

All cotton exports by Australia to China have reportedly stopped...

Interviews View All

Textile industry, Head honchos

Textile industry
Head honchos

South India has a very strong manufacturing base

Dinaz Madhukar, DLF Emporio and DLF Promenade

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Software Firms, Head honchos

Software Firms
Head honchos

Blockchain technology will shorten lead times

Zillur Rehman,

Zillur Rehman

Cornerstone Systems offers consultancy to businesses for enhancing their...

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

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

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

<span style="font-size: 12px;">Designer Suman Nathwani talks about her...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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


October 2020

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


Advanced Search