MNC launches first phase of its Turkish Textile factory investing 1.2bn birr

YarnsandFibers News Bureau 2014-01-25 15:45:00 – Ethiopia

MNS Manufacturing PLC, one of the Turkish textile factories operating in Ethiopia has a textile factory in Legetafo, northeast of Addis. The company launched the first phase with an investment of over 1.2 billion birr and started production of carpet, towel, polyester and fiber-line home furniture (spring mattress and sofa). The company has undertaken expansion work in three phases and it is expecting to finalize second and third phases soon.

MNS Project Coordinator, Nursel Aslan said that they are working very hard to finalize the whole project and make the investment generate income as quickly as possible. Investors should be bery committed to succeed in Ethiopia as they do. According to him, you cannot be successful if you are dubious.

The factory has also created employment opportunities, so far they have employed 400 Ethiopians, which is increasing day by day. This year, with the first and second phase go fully operational, they will have approximately 1,200-1,500 Ethiopian workers at their textile factory.

Some 76 Turkish companies have carried out investment projects worth 4.1 billion Ethiopian Birr (roughly $213 million) in the fields of manufacturing, construction and real estate as per the Ethiopian Investment Agency's public relations department.

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