China’s Second Leading Textile Factory to Invest in Ethiopia

ADDIS ABEBA – Ethiopia Industrial Parks Development Corporation (IPDC) has signed today a lease agreement with the second leading textile company in China, Shangtex Holding Co Ltd.

The company will invest 65 million US dollars at Bole Lemi II Industrial Park, said Leilse Neme, CEO of IPDC, after signing the deal with a representative of the Chinese company.

They are also expected to hire more than 4, 000 Employees, according to IDPC.

Bole Lemi is Ethiopia’s first industrial park developed by IPDC. An Export Processing Zone, it will be, upon completion, a “green” park, with more than 30 hectares of green areas being currently developed.