British company Intrade UK Ltd recently signed an agreement to build a $100-million textile and garment factory at Mekele Industrial Park in Ethiopia as part of a memorandum of understanding to invest $200-million in the country’s textile and garment, pharmaceuticals and agricultural products processing sectors. The company owns cotton farms in Sudan.
The planned factory covering 10.5 hectares is expected to start production after 16 months and generate over 1,300 jobs, according to a report by an Ethiopian news agency. (DS)
Fibre2Fashion News Desk – India
SOURCE – FIBRE 2 FASHION.COM