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.
Another Chinese pharmaceutical company, Human Well, is in the process to build a pharmaceutical factory in Debre Birhan town. Teka told The Reporter that Human Well was excepted to invest in the Bole Lemi II pharmaceutical industrial park. However, he said since the company wants to immediately start construction it decided to build the plant near Debre Birhan town. A Chinese construction firm has started building the Bole Lemi II Industrial Park dedicated to the pharmaceuticals sector. Read More
YHM Consulting signed an agreement with CBI to facilitate and assist in selection and recruitment of companies to participate in the CBI Export Coaching Programme (ECP) as local Business Support Organizations (BSO's).
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