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Eight New Textile Projects to Become Operational in Ethiopia

Eight new textile projects and expansion programs are expected to become operational in Ethiopia this fiscal year. The projects are scheduled for completion with a combined investment of over 4.4 billion birr.

Five of the projects underway are being newly constructed at a total estimated cost of 3.4 billion birr and are expected to employ 3000 people.

The remaining three projects are initiatives to expand existing plants at a total cost of more than a billion birr to offer employment for a further 1800 people.

In related news Ethiopia earned near to 44 million US dollars from the export of textile and textile products in the last two quarters said the Ethiopian Textile Industry Development Institute.

The revenue earned from textile exports in the last two quarters exceeded the amount collected in the same period of the previous fiscal year by almost 23 million US dollars according to Sileshi Lemma Director General of the textile development institute.

Leading exporters over the past six months included, Aika Addis Textile and Investment Group, Almeda Textile, Kombolcha Textile Share Company, Elsie Addis Textile Factory, NovaStar Garment plc and Ma Textile and Garment Factory noted Sileshi.
Ethiopian textile and textile products were primarily exported to Belgium, China, Djibouti, Germany, Italy, Sudan, Turkey, United Arab Emirates, United Kingdom and the United States of America he said.

Source: Capital