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Chinese Company to open a $67 million leather factory in Ethiopia

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11/02/10

  01:43:31 am, by admin, 150 words  
Categories: Business, Ethiopia

Chinese Company to open a $67 million leather factory in 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.”

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Comment from: BERHAN [Visitor]
3 stars
BERHAN

“It has got nothing, but we are coming to their needs.”

WOW!! And some blame Al Amoudi for nothing.

11/02/10 @ 02:12
Comment from: Wollo [Visitor]
Wollo

Oh this is not good. Another balame will come from Human Rights Watch as EPRDF keeps strengthening its relation with China. Believe me HRW will be so annoyed and will figure out something to blackmail Ethiopia.

11/02/10 @ 02:17
Comment from: c´moi senait [Visitor]
c´moi senait

It is GOOD. ONLY beggers who oppose the deal. We need more chines and far easterns campany and NOT OXFAM,USAID or those beggers charity.

11/02/10 @ 04:57
Comment from: Banda Geday IV [Visitor]
3 stars
Banda Geday IV

I am for The Chinese, let them come to Ethiopia (I am not talking about Africa as a whole)and do buisness.

That said, they (i.e. Chinese ambassador to Ethiopia) got to stop lying: “It has got nothing, but we are coming to their needs.”

11/02/10 @ 05:10
Comment from: jemal the camel [Visitor]
jemal the camel

keep up mama ethiopia you have a bright future just infront of you,what all your enemy have barked,what your bud thinkers are dreamed,let them forget but you simply forward. vivas ethiopia and ethiopian, viva china and chainis.

11/02/10 @ 06:45
Comment from: MAMO [Visitor]
MAMO

wow long live ethiopia

11/02/10 @ 06:46
Comment from: Videoer [Visitor]
Videoer

While the diaspora community is whining about Woyane, the Chinese and the Indians are taking over Ethiopia.

Hello my fellow diaspora: Go fight Woyane or invest in Ethiopia….talk is cheap!

11/02/10 @ 07:42
Comment from: chala [Visitor]
chala

let the talkers talk and the makers make.
the best say of the day.

11/02/10 @ 08:50
Comment from: legesse [Visitor]
legesse

That is the end of Ethiopain endogenous leather industry.
The Chinese will kill it and will monopolize the industry;will hire Chinese laborers and export made in Ethiopia to the US/EU but will take the profit back.
How does this help Ethiopia?
Leather industry is one of the areas the endogenous industry is doing well,why not help them than kill them?

11/02/10 @ 11:14
Comment from: D [Visitor]
D

Chinese are dying to copy America and we are dying to copy China. But the man landed in the moon isn’t Chinese! Although it is not perfect American system achieved in less than 200 years what is impossible for Chinese in 5000 years! !!

11/02/10 @ 11:25
Comment from: Kena Keb [Visitor]
Kena Keb

Tamagn Beyene will soon lead another demonstration outside the Chineese Embassy to burn the Chineese flag while Alemayehu G/Mariam is dusting his computer for next Sunday’s article condemning China’s presence in Ethiopia.

Ethiopia shall prosper!!

11/02/10 @ 11:36
Comment from: abdishaable [Visitor]
abdishaable

you are right Wollo another balame will come from Human Rights Watch as EPRDF keeps strengthening its relation with China. George SOROS will be so annoyed and will order his ‘NGO’ HRW to figure out something to blackmail Ethiopia.

11/02/10 @ 11:37
Comment from: Arsi [Visitor]
Arsi

We, the lazy a$$ habeshas need to learn hard work from the Chinese. Most habeshas spend 8hrs to complete a 2hrs task. The Chinese can teach us… Let them come. The West don’t want Africa to develop and become self sufficient. The Chinese have contributed so much in helping develop Africa in past 10 years than what the West have done in the past 100 years.

11/02/10 @ 11:48
Comment from: ankober [Visitor]
5 stars
ankober

let hundreds of factories flourish.

11/02/10 @ 12:21
Comment from: gud new [Visitor]
gud new

Arsi, very smart assessment. Here in the U.S. I know habeshas that chew chat all day and work security guard at night for 3 days and complain. In U.S.A where Mexicans have 3 to 4 full time job. Not the old generation they work hard, it is the new generation that are lazy. All they want to do is chew chat and watch T.V. so I say let them come and invest. If we can’t do it let someone else do it. land yezo kuche malete mend new tikmu. Until we change our ways of being lazy let whoever who is willing to work invest. Diaspora yezorebet hizb new including me. Since we are not prospering we do not want anyone to prosper and be better than us, hence the reason we complain. Alebela ena ayeblew mentality we have is killing us. Food for thought. We in general don’t like to see people succeed and if they do we say hodam…very funny. Al and his followers (dummy disciples) the reason they complain and call investors hodam is funny to me. How are they hodam when they work hard to better their life.

11/02/10 @ 15:13

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