Kanoria Chemicals & Industries Establishing a Textile Processing Plant in Ethiopia

Kanoria African Textiles PLC, a subsidiary of India based  Kanoria Chemicals & Industries, is establishing a denim fabric manufacturing factory in Ethiopia, the first of its kind in East Africa.

The company will erect the factory on a 153,000 sq m plot squired on lease in Bishoftu town of Oromia Regional State, 44 km southeast of Addis Ababa. when construction is completed in January 2014, the factory will have a capacity to produce 12 million meters of denim annually. The factory will also create 350 jobs, mainly for Ethiopians.

The plant will have spinning (1,440 rotors) and weaving (60 looms) units, a dyeing facility and a finishing line in one production, according to the business plan submitted to the Bishoftu administration. Construction  of the plant is expected to start by the end of May after the environmental assessment is finalized.

The company, owned by R.V. Kanoria, former president of the Federation of Indian Chambers of Commerce and Industry (FICCI), has plans to venture into other types of businesses in Ethiopia.

Source: Daily News

Exchange Rates

USD 43.3628  42.5125 
EUR 52.5600  51.5294 
GBP 58.3155  57.1721 
AED 10.6829  10.4734 
CAD 32.3415  31.7074 
CHF 45.8497  44.9507