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Privatization bid of textile mill fails

05
May '09
Two of the state run textile mills in Ethiopia which had been given to private ownership for the day to day running of the units are back in state hands. One of them is Hawassa Textile Mills and the other is Arbaminch Textile Share Company.

Both the textile mills had been handed over to a Turkish company by the Privatization and Public Enterprises Supervisory Agency (PPESA). Narin Orme Textile Group had signed the lease agreement for a period of five years, but exited within three years.

The Hawassa Textile Mill is currently operating at a very low capacity and the mill management has requested the government to inject funds in to the sick textile mill to modernize the machinery and thereby increase productivity.

Fibre2fashion News Desk - India


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