China's 2nd Largest Textile Company To Set Up Plant in Ethiopia

shanghai-bole-lemmiShangtex Holding Co. Ltd., China's second-largest textile company, is to set up a $65 million plant at Bole Lemmi II Industrial Park. To this end, the company signed a lease agreement with the Ethiopian Industrial Parks Development Corporation.

Inking the agreement with Shangtex Holding Co. Ltd. was Lelise Neme, CEO of the Ethiopian Industrial Parks Development Corporation (EIPDC). 

Shangtex Holding's plant will create an employment opportunity for more than 4,000 workers, it was noted.

Lelise said on Twitter that the company will invest $65 million at the industrial park and create jobs for more than 4,000 people.

Source (Including Image): Official Twitter Account of Lelise Neme, CEO of EIPDC


Exchange Rates

USD 36.2387  35.5281 
EUR 42.7580  41.9196 
GBP 45.3606  44.4712 
AED 8.9278  8.7527 
CAD 24.6753  24.1915 
CHF 37.9556  37.2114