George Shoe Corporation, a Taiwanese company, is planning to establish three shoe manufacturing plants in Ethiopia, Fortune reported.

The Plants which will be constructed in Addis Ababa, Adama and Mojjo towns will cost around US$ 50 million, according to the report.

The Ethiopian Ministry of Industry has granted the company a 15,000 square meter land in the Lemi Industrial Zone. The Ministry has also granted the company a 66 hectare lot in Adama while it is consider a 50,000 square meter land request in Mojjo town.

"We consider their experience in China, where they played a considerable role in scaling up the Chinese shoe making industry" Tadesse Haile, State Minister of Industry told fortune explaining the reason the Ministry prioritized requests of the company.

The fact that they agreed to cover the whole investment cost also persuaded us to let them in" Tadesse added.

The company is scheduled to launch production in March 2014, with a production capacity of 4000 pairs of shoes a day, and one hundred percent of its product will be export bound, Fortune reported citing the State Minister.

Source: Fortune