Sep 24 , 2022
A Chinese textile manufacturer has signed a 216 million Br deal for a lease at Adama Industrial Park. The managers of Lighthouse Garment Manufacturing Plc say they expect to invest close to one billion Birr into their new venture and create over 600 job opportunities. The company produces textile fabrics with plans to supply local markets and export a third of its products to buyers in Singapore, Sudan, Tanzania, and Angola. Lighthouse Garment Manufacturing has been in the manufacturing business for over 20 years. The deal last week bucks the trend the Industrial Parks Development Corporation (IPDC) has been witnessing in the textile industry over the past year. Hawassa Industrial Park, its textile hub, has seen its biggest tenants abandon projects or slim workforces and cut production following Ethiopia's debarment from a preferential trade regime with the United States.
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