Intrade Co to invest $100 million to build a textile factory in Ethiopia
(Ecofin Agency) - The British firm Intrade Co, specialized in agricultural raw materials, will disburse $100 million for the construction of a textile factory in Ethiopia, the news site just-style reported.
The facility will be built over more than 10 ha inside Mekelle industrial park, in Tigray region located 783 km from Addis-Ababa.
The construction is set to last 18 months and is expected to generate 1,300 local jobs once the operational phase is launched.
This new investment reflects a general trend of many foreign investors attracted in particular by the competitive salaries, an abundance of energy as well as a favorable fiscal environment.