News

Intrade Co to invest $100 million to build a textile factory in Ethiopia

  • Comments   -   Monday, 12 February 2018 - 15:41

(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.

Espoir Olodo

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