In a bid to bypass the foreign currency shortage that forced halt the import of Bt Cotton seeds, the Indian based JK Agri Genetics Ltd. is negotiating to bring its patent and multiply Genetically Modified Organism (GMO) seeds in Ethiopia.
Awassa Textile and Industrial Park S.C, a local company established by three Ethiopian investors, is going to build a privately-owned industry park in Hawassa town at a cost of two billion birr, The Reporter has learnt.
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.
The Bahir Dar Industrial Park is set to integrate new and upcoming textile graduates from the Bahir Dar University in its manufacturing chains as textile and garment companies’ edges closer to commence operations inside the park’s eight factory sheds.
The ill-fated Ayka Addis Textile and Investment Group, a textile manufacturer which went bankrupt, is said to be foreclosed next month with close to two billion birr, in an effort to recover loans the manufacturer received from the embattled the Development Bank of Ethiopia (DBE). The company used to owe some 2.3 billion birr, The Reporter has learnt.