Ethio Leather Industry PLC (ELICO), a subsidiary of MIDROC Ethiopia, inagurated a new shoes factory on September 7, 2013. 

The factory, built at a cost of 83 million Ethiopian birr, is expected to produce 1,000 shoes a day.

The company is planning to export 70 percent of its produce, according to Tamirat Kitaw, manager of the company. 

ELICO was established in 1997 after MIDROC Ethiopia aquired two tanneries and leather product manufacturing factory from the Privetization and Public Enterprises Agency (PPESA).

Source: Fortune