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)
On the corporate front, the
year saw Alibaba forging global alliance to fight counterfeiting, Michael Kors
acquiring Jimmy Choo, and India’s Reliance Industries becoming the world’s
largest PX producer.
Source: Wiltshire Times, United Kingdom Saturday, 13 January 2018