Chinese 2nd largest textile company to invest $65m in Ethiopia

Addis Ababa, January 8, 2020 (FBC) -Shangtex Holding Co. Ltd has signed a lease agreement with the Ethiopian Industrial Parks Development Corporation to invest at Bole Lemmi II Industrial Park.

Shangtex is the second largest textile company in China.

The agreement was signed here by Lelise Neme, CEO of the Corporation and representative of the Chinese company.

Lelise said on Twitter that the company will invest $65 million at the industrial park and create jobs for more than 4,000 people.