140 mln. USD worth Textile Factory Inaugurated in Ethiopia

by ENA

Addis Ababa, April 30, 2010 (Addis Ababa) - A textile factory built at a cost of 140 million USD by a Turkish Business firm known as AYKA was inaugurated here on Friday.
Prime Minister Meles Zenawi Inaugurated the factory constructed in Alemgena area, West of Addis Ababa City.

The factory has already begun to export thread valued at 10 million US dollars.

The factory has created job opportunity to over 10,000 people.

When it operates with its full capacity, the factory can export textile products worth 100 million USD annually.

The factory manufactures different kinds thread, 70,000 ready made clothing and other textile products.

The factory also spins and dyes over 99,000 tons of garments.

Trade and Industry State Minister, Tadesse Haile said the factory, which is the biggest of its kind in the country, is a result of the industry policy of the government.

The factory is owned by Yusuf Aydeniz and his partner Gurchay Kavlakli.

Aydeniz on the occasion said the factory is realized with the support of the Ethiopian government led by Prime Minister Meles.

Communication Directorate Director with the Ministry of Trade and Industry, Amakel Yimam told ENA that the objective of the agricultural led industrialization is to make Ethiopia an industrial nation.

Textile Industry Development Institute Director-General, Sileshi Lemma also said the government has given prime attention to the sector.



Ministers and other senior government officials, resident ambassadors and invited guests attended the inaugural ceremony of the factory.