Calzedonia Group (Italy), a global apparel manufacturer and retailer, inaugurated its first factory in Africa, ITACA Textile Plc., in Ethiopia, which has already started exporting and employs more than 1,000 people.
MEKELLE (ENA)–The Italian apparel/fashion manufacturer company Calzedonia Group inaugurated ITACA Textile Plc., a 15-million USD investment, in Ashegoda, near Mekelle city, Tigray Regional State, today.
During the inauguration, ITACA Textile CEO Federico Fraboni said the factory has already started exporting clothes to different European countries.
ITACA Textile Plc. expects to earn 22 million birr in a month by exporting to the global market.
State Minister of the Industry of the Federal Democratic Republic of Ethiopia, Mebrahtu Meles, PhD, said the factory will create job opportunities and contribute to development.
Furthermore, the State Minister pointed out that this is the type of quality investment Ethiopia needs.
Investment Director at Tigray Regional State’s Trade, Industry and Urban Development Bureau, Haftom Fantahunegn said that the factory has created more than 1000 jobs for citizens.
He added that two additional textile factories will start production soon.
In another investment-related news, Danish International Company A.P. Moller–Maersk Group (aka Maersk) expressed interest to invest in Ethiopia’s logistics business, according to Office of the President.
President Mulatu Teshome, PhD, who is in Denmark for both an official visit and to attend an international conference on Partnership for Green Growth and the Global Goals 2030, have discussed with representatives of the company.
During the discussion with President Mulatu Maersk’s CEO, Søren Skou said the company is ready to invest in Ethiopia.
According to the CEO, delegation of Maersk will come to Addis Ababa next month and explore the business opportunities on the ground.
Appreciating the company’s decision to invest in Ethiopia, President Mulatu assured “the government of Ethiopia will render all the necessary support so that it would be successful in all its endeavors”.
A.P. Moller Maersk, which operates in 130 countries across the globe, is an integrated container logistics company.
Source: ENA