ADDIS ABEBA – Chinese firm has agreed on Wednesday to take over the entire factory sheds at Bahir Dar Industrial Park.
Officials of Hong Kong-based firm, Hop Lun Holding, signed a Memorandum of understanding with the Ethiopian Investment Commission (EIC). The agreement will allow the company to take over the entire factory sheds.
The company will also invest 50 million dollars on the Industrial Park, said Hanna Arayaselassie, deputy commissioner of Industrial Park division at the EIC.
The Industry Park has been built has with a total investment of 161 million Birr and opened a few months ago.
Deputy Commissioner Hanna the company will manufacture underwear clothes for USA and Europe market.
“In the first phase of the company’s investment, at least 6, 000 women will get job creation,” Hanna said, adding that, it will also help increase technology transformations between the company and the country.
Hop Lun, established in 1992, has been known for delivering fashion lingerie and swimwear to major global retailers for over two decades.
The company employs close to 30,000 people and owns 8 manufacturing facilities located across 3 countries.
The company has also a plan to expand its investment in Bahir Dar industrial park, according to Hanna.
By Mhret G/Kirstos