Chinese firm to invest over USD 15 mn to expand its textile factory in Ethiopia

YarnsandFibers News Bureau 2015-03-10 17:00:00 – Ethiopia

Shaoxing Mina Textile Company a Chinese company decides to make investment of over 15 million USD to expand its textile and garment factory at Sebeta Town, Oromia State which upon completion would create 5,000 jobs.

President Dr. Mulatu Teshome in a discussion with Company CEO Chang Jun held last Wednesday, said that the government is keen to support investors engaged in manufacturing industries.

Dr. Mulatu further noted that the presence of a favourable investment atmosphere, cheap labour, ample market opportunity and its ideal geographical location will make Ethiopia a comparatively more advantageous place for investors engaged in the manufacturing sector.

On his part, Company CEO, Wei Chang Jun said that the dying and printing factory that has been under expansion on five hectares of land will be completed within months as 95 percent of the equipment have already been imported from Italy and South Korea.

The textile and garment factory plans to export its products to Europe, the USA, Thailand, Turkey and other African countries.

The Ethiopian government is working actively in the area of textiles and garment industry and has assured that it will support the company by all means available.

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