|« Ethiopia -Ethiopian Airlines Plans $10 billion in annual revenue in 2025||On this Date in 1930 Haile Selassie was crowned Emperor of Ethiopia »|
Chinese Company to open a $67 million leather factory in Ethiopia
China's Xinxiang Kuroda Mingliang Leather Co is set to open a $67 million leather factory in Ethiopia on November 24, Bloomberg news reports quoting a statement from Chinese embassy in Ethiopia.
The company financed 55% of the project while the remainder coming from the China-Africa Development Fund. the report said.
Ethiopia is increasingly looking towards China for development partnerships as the country has become one of the major investors in Ethiopia. China's ZTE Corp. lent $1.5 billion in 2008 for Ethiopian Telecommunication Corp. to upgrade its infrastructure, while other companies have helped build hydroelectric plants, the ring-road around Addis Ababa and the part-completed African Union Conference Center.
“Ethiopia is the best example to refute some of the criticism of China being in Africa only for resources,” Chinese ambassador to Ethiopia was quoted as saying. “It has got nothing, but we are coming to their needs.”
Comments are closed for this post.
|<< <||> >>|
«"ethiopian airlines"» adoption agriculture airline airlines athletics aviation business caf china crime diaspora drought dv economy ecx energy eritrea «ethiopian airlines» famine fashion football health ict immigration investment islam it manufacturing media «meles zenawi» migration mobile muslim olympic olympics phone politics power press rail railway religion soccer sport style technology telecom train wikileaks