Earns $3 mln from export, plans cotton production on 30,000 ha
Else Addis Industrial Development P.L.C, a textile factory, announced that it had started exporting textile products to different countries around the world.
The first time the company exported its textile products was in March. It exported textile products to the United States, Russia, Ukraine and the Far East countries, Dilek Durular, project coordinator of the company, said.According to Dilek Durular, over the last three months the company has earned about three million dollars from export.
She said that Else has three factories with investing capital of 140 million USD of which 63 percent is a loan from the Development Bank of Ethiopia.
Else Addis Industrial Development P.L.C is planning to open three companies, the first of which was completed three months ago. The second one will be completed in August 2011 and the third by the end of next year.
Dilek also said that the company was planning to plant cotton on 30 thousand hectares of land in the Omo Zone of Southern Nations Nationalities and Peoples Regional State next year.
Meanwhile, the Ministry of Trade said that Mihaviri Industry Plc, another textile factory, would start production before the end of next week. Together with Else Addis Industrial Development Plc, it will have a combined production capacity of 55,000 sq m woven textile, 2.7 tonnes of processed textile and 20 tonnes of thread.
Currently, an expansion project underway in Kombolcha Textile SC is expected to be completed in two weeks. The project will raise the annual production capacity of the factory from 12 million sq m to 25 million sq m.
The textile industry of the country generated 55.3 million dollars from exports in the past eleven months.
Source: Walta Information Centre