In a bid to bolster Ethiopian Textile industry, Chinese conglomerate Jiangsu Sunshine Group has announced to invest US $350 million for setting up a textile plant in the city of Adama.
Reportedly, the new factory will produce 10 million meters of worsted wool fabrics and 1.5 million finished parts.
Apparently, in the recent past, Ethiopia has attracted several foreign investors from the textile and clothing domain, including Turkish textile giant Akber and Taiwanese George Shoe Corporation. This investment will definitely open a new vista for the Ethiopian textile industry.
The investor, Jiangsu Sunshine Group with an annual production capacity of 3.5 million sets of high-grade men’s suits and women’s wear, and 35 million meters of fine worsted wool happens to be the world’s largest wool textile manufacturer and is equipped with a high-grade apparel production base.
