ADDIS ABABA: Wuxi No. 1 Cotton Ethiopia Textile Plc., a Chinese textile manufacturer, has opened its textile factory in Dire Dawa’s Industrial Park. Found inside 52 hectares of land with over USD 220 million spent, it has, so far, created more than 1500 local jobs in the area and is expected to reach 3500 once it’s fully operational.
“This is to be a great investment for us, and we continue to look for opportunities to expand within Ethiopia,” Zhang Sheng Ming, General Manager of the company in Ethiopia told The Reporter, adding, “Ethiopia, with its investment favorable environment and young population, continues to be a place where we can utilize our expertise while becoming a corporate citizen and a friendly neighbor within the city of Dire Dawa.”
The century-old company signed a memorandum-of-understanding in 2017 with the intent of exporting its quality products to European, North American, Japan and other markets from the park.
The textile processing plant in Dire Dawa was built by the China Civil Engineering Construction Corporation (CCECC). CCECC is also currently constructing the Dire Dawa Industrial Park.
The mega manufacturer of fabric products produces more than 26,000 tons and 30 million meters of gray fabrics annually at all its operations.
Ethiopia continues to attract a slew of investments from China, in areas of construction of roads, airports, factories and manufacturing. It is a leading source of much-needed jobs within the nation. It has been a noted partner in the nation’s signature industrial parks that are being built across the country, and has been credited to helping change the economic successes of the nation that is fast-moving from aid dependency to a culture of entrepreneurship.
The company is to use 100 percent pollution-free and environmentally friendly re-generated system within Ethiopia.
“In addition to what we do, we are very much interested in, the impact of the environment and complement it, instead of harming it. We are an environmentally conscious company and that is how we want to be known in Ethiopia,” Ming added