May 06, 2012
An Indian-denim producer has plans to foray into Ethiopia and set up the biggest textile and garment production plant at a cost of US $100 million.
The Indian company whose name has been revealed yet took the decision after attending Origin Africa, a textile trade show held in Addis Abba a few days ago.
This was revealed by Mr Rajeev Arora – Executive Director of African Cotton and Textile Industries Federation (ACTIF).
The company plans to set up a vertically integrated textile production facility beginning from cotton, yarn and fabrics to garments.
The company has also requested the Ethiopian government to provide it with 10,000 hectares of land to begin cotton farming.
Ethiopia is one of the world’s fastest growing economies, growing an about 11% a year.