Chinese firm Jiangsu Sunshine to invest $350 million to set up textile factory in Ethiopia
Friday, 08 April 2016 20:38
Chinese conglomerate Jiangsu Sunshine Group announced in a statement published on April 7 it will invest $359 million to build a textile factory in Ethiopia.
The factory should be established in the Adama industrial park (about 100 km South East of Addis Ababa) over an area of 4.5 hectares. It should in the long term produce 10 million m of combed wool fabrics and 1.5 million finished units.
Established in 1986, Jiangsu Sunshine Group deals mostly in the power production, pharmaceutical products, housing and textile-clothing sectors.
Ethiopia over the past years has attracted many foreign companies operating in textile-clothing sectors including Turkish giant Akber, Indian ShriVallabh Pittie (SVP), Chinese Zhejiang Jinda Flax, Korean Myungsung Textile Company, Taiwanese George Shoe Corporation.
The country relies mostly on cheap labour, improved power supply chain and its road and ports infrastructures which are in good shape. According to a study by consulting firm Bernstein, manufacturing clothes in Ethiopia costs twice less than in China.
Live News
-
Cameroon’s Vice Presidency Reform: A Response to Political Risk Weighing on Sovereign Ratings
20:33
-
Ghana's 3Farmate Bets on Robotics to Transform African Farming
14:49
-
Togo Exceeds Bond Target as Strong Demand Drives 4x Oversubscription
14:46
-
IMF appoints Mauritania’s Zeidane to head Africa Department
18:56
-
BCEAO sets June 30 deadline for operators to join instant payment platform
18:52
-
Cameroon higher education group plans microfinance bank for student startups
18:34
-
Internet Freedom in Africa Remains Uneven in 2026 Despite Rising Access
18:30
-
Cameroon Delivers Tractors to Agropoles to Scale Production and Agro-Processing
18:28
-
Togo receives CFA1.6B Chinese rice donation to support food security
15:01
-
Togo: Bloomfield outlines risk profile, sees reform-linked investment potential
12:49
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
ECOWAS and IMF sign cooperation framework to strengthen policy alignment West Africa’s grow...
Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...
West African Development Bank plans CFA6,500 billion ($11.5 billion) in financing for 2026–2030. ...
Government considers joining Medusa cable to improve network stability Project estimated at €20–60 million, with rollout targeted for...
Ethiopia signs roadmap with Russia’s Rosatom to develop civil nuclear sector Partnership aims to reduce reliance on hydropower, which dominates...
Senegal and Nigeria deepen cooperation on gas, refining, and energy policy Talks build on existing regional frameworks like the West African Power...
Mali allocates $289 million to 2026/2027 farm campaign, up 2% Cotton output target set at 598,500 tons, a 38% increase Cereal production...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...