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Chinese textile giant to invest USD 945 mln in Ethiopia

11 Mar, 2017 By Kaleyesus Bekele


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The Chinese textile and garment company, Jiangsu Sunshine Group, is to build a mammoth wool factory in Adama Industrial Park at a cost of 945 million dollars.


Teka Gebreyessus, deputy commissioner at the Ethiopian Investment Commission (EIC), told The Reporter that the giant Chinese company has decided to invest 945 million dollars. Teka said Jiangsu Sunshine will build a wool factory that would manufacture wool fabrics and export to various countries. President of the company signed the investment agreement recently in Addis Ababa. The company manufactures and sells men’s suits and women’s wear.


Established in 1986 Jiangsu Sunshine investment conglomerate engages in wool textile and garment production, pharmaceutical, real estate, energy and ITC sectors in China and many other countries. The company formerly known as JiangYin Worsted Wool Mill changed its name to Jiangsu Sunshine Group Co. Ltd in 1993. The company is based in Jiangyin, China.


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