Indian-based, Kanoria Chemicals and Industries Limited (KCI) Company has finalized its preparation to inaugurate textile production plant in Ethiopia on October 24, 2015, top company official stated.

Assistant vice President (Economic Affairs), KCI Asit Roy told Fibre2Fashion.com that we plan to produce 12 million meters of high quality denim fabric in the first phase of production.

Asit Roy said: “We wanted to diversify into textiles, and also increase our international footprint. The venture in Ethiopia will not only provide it a base, but will also provide a better access to the African market.”

In addition to that, inexpensive power, presence of cotton and a pro-industrialization stance of the Ethiopian government are the reasons for targeting Ethiopia, he said.

The plant in Ethiopia had consumed USD 44 million. And the denim fabric production targets export market, Roy noted.

Source: www.fibre2fashion.com