Home / Knowledge / News / Textiles / Biggest Ethiopian textile mill opens

Biggest Ethiopian textile mill opens

04
May '10
Turkish investors inaugurated a textile mill in Ethiopia last week, in what is called the biggest textile plant to be set up in the country. Present were, Prime Minister, Meles Zenawi and Girma Birru, Minister of Trade and Industry.

The plant will currently employ around 5,000 workers and its peak will provide over 10,000 jobs to people from the province. The plant has been relocated by a Turkish firm; Ayka from Turkey and has invested US $100 million to set up the plant.

The production capacity of the spinning plant is 20 tons of yarn per day and the capacity of the knitting and dyeing plant is 40 tons per day. The textile mill is expected to generate export revenues of $70 million in the first year and $100 million in the second.

This project was personally overseen by the Prime Minister, who took personal interest in the setting up of the plant, to ensure that all problems were sorted out. The Development Bank of Ethiopia too has extended term loans for the project.

Speaking on the occasion of the inauguration, Girma Birru said, “The factory will serve as a role model for the domestic investors in this sector and will also prove to be a pacesetter for the textile industry in Ethiopia”.

He also said that, the government wants to generate $500 million from the textile industry and also attract foreign investment. It also plans to increase cotton cultivation in the country from the present 110,000 hectares to 540,000 hectares.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 4th Apr 2020

Textile-garment, retail sectors bear enduring pandemic

Extended store closures, many factories halting operations due to...

Pic: Kristi Blokhin / Shutterstock.com

Textiles | On 4th Apr 2020

World Bank Group launches 1st operations for COVID-19

The World Bank’s board of executive directors yesterday approved a...

Pic: Shutterstock

Apparel/Garments | On 4th Apr 2020

Haiti making masks to fight COVID-19 pandemic

To keep its textile industry afloat amid the economic shutdown...

Interviews View All

Arvind Saraf, Triveni Sarees

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Spokesperson, Hugo Boss

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Rahul Bhadani, Looksgud

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Carmen Silla,

Carmen Silla

Leading the transformation of the textiles industry with disruptive...

Verena Ruckh,

Verena Ruckh

Brückner Trockentechnik develops, manufactures and supplies textile...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

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

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

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

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

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


March 2020

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


Advanced Search