Chinese Company Starts Exporting Products from New Industrial Park
Adama December 30/2018 Antex Groups, a Chinese textile manufacturing company, has officially started exporting its products, making it the first company to export from the recently inaugurated Adama Industrial Park.
From its first export to Europe, a container of swimwear, the company is expected to generate 100,000 U.S. dollars, Antex Chairman, Qian Anhua said.
The Chairman said that the company has created jobs for 1,500 individuals. The number is expected to reach 10,000 when it goes fully operational.
Antex, that started its investment with five million U.S. dollars has later increased its capital to 50 million U.S. dollars. It is working on eight sheds that it rented within the park.
Officials from the investment commission and industrial parks development corporation (IPDC) attended the ceremony organized to celebrate the first export from the park.
CEO of IPDC, Lelise Neme lauded the company for starting to export products within a short period of time.
She added that Adama Industrial Park is exemplary for others for starting export within few months. The park was officially inaugurated in October this year.
Two companies including Antex are already started operation, while three others are in the pipeline, she said.
Adama industrial park is among the industrial parks that Ethiopia has developed over the past few years in order to stimulate industrial development by attracting anchor companies.
Adama Industrial park, approximately 93km southeast of Addis Abeba in Oromia regional state, was inaugurated in early October by Prime Minister Abiy Ahmed.
The first phase of the park that lies on 102 hectares, built at a cost of 147 million dollars was commissioned by the Industrial Parks Development Corporation.