Fortune News | Jul 06,2019
Nasa Garment Plc has become the first local firm from Hawassa Industrial Park, the nation's flagship park, to export its products to Canada.
Founded in 2019, Nasa Garment exported a 20-foot equivalent unit container that carried 21,000 units of clothing including shirts, trousers, active wear and sweaters on April 8, 2020, to Canada, which offers duty-free privileges for Ethiopia's products. The plant manufactured the garments at its plant that rests on 5,500Sqm of land rented in the Park.
The company, which is owned by Saron and Goitom Afework, has the production capacity to make 30,000 pieces of clothing a day with its 30 production lines. Nasa employs 340 people, but it is expected to hire 2,100 people when it becomes fully operational. Nasa, which started production in January 2020, will ship its products weekly to Canada.
Founded in 2019, Nasa Garment exported a 20-foot equivalent unit container that carried 21,000 units of clothing including shirts, trousers, active wear and sweaters on April 8, 2020, to Canada, which offers duty-free privileges for Ethiopia's products.
"We congratulate the company on this great milestone," tweeted Abebe Abebayehu, commissioner of the Ethiopian Investment Commission.
The company plans to earn 1.5 million dollars from exports this year and expects to earn seven million dollars next year, according to Raghavendra Pattar, Group CEO of the company.
During the past eight months of this fiscal year, the textile and garment industry in the country generated 129 million dollars from exports, a 32pc increase over the same period last year. The volume also registered a 4,100tn increase from the preceding year.
Nasa, which was established with a five-million-dollar investment, is preparing to venture into the second phase of investment at Bole Lemi Industrial Park. Expected to cost 11 million dollars, the plant is planned to be fully operational in 2022. The company has already received 1,200Sqm of land in the Park and plans to construct its facility after the COVID-19 situation changes.
The second plant will manufacture denim with 7,000 employees and intends for the Primark and OneTeaspoon brands to be its customers, according to Saron Afework, chairperson of the Nasa Group.
Hawassa Industrial Park, which houses a total of 23 companies currently in operation, sends over 90pc of its exports to the United States and Europe. The Park, which hosts three local and 19 international textile and garment companies, was constructed by the state-owned Industrial Parks Development Corporation for an estimated cost of 30 billion Br. Hawassa is one of seven fully operational industrial parks in the country, which employ a total of 65,000 people.
Last week about half of the companies in the Park, which has 35,000 direct employees, stopped production due to a widespread slowdown in the global economy after the outbreak of Novel Coronavirus (COVID-19). These companies also gave up to three weeks paid annual leave to their employees.
Atlaw Alemu (PhD), a lecturer at Addis Abeba University’s Faculty of Business & Economics, appreciates the company making the shipment in the midst of the current situation.
”Exporting during the current situation is difficult," said Atlaw. "The company did well, and it is a demonstration that any company can safely export in the current pandemic. Nasa will create great inspiration for local investors across the country."
PUBLISHED ON
Apr 12,2020 [ VOL
21 , NO
1041]
Fortune News | Jul 06,2019
Radar | Nov 23,2019
Radar | Oct 16,2021
Fortune News | Apr 22,2022
Radar | Jul 30,2022
Fortune News | Feb 05,2022
Fineline | Apr 06,2019
Fortune News | Aug 01,2020
Fortune News | Jun 29,2019
Fortune News | Mar 16,2019
Aug 18 , 2024 . By AKSAH ITALO
Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...
Jul 13 , 2024 . By AKSAH ITALO
Investors who rely on tractors, trucks, and field vehicles for commuting, transportin...
Jul 13 , 2024 . By MUNIR SHEMSU
The cracks in Ethiopia's higher education system were laid bare during a synthesis re...
Jul 13 , 2024 . By AKSAH ITALO
Construction authorities have unveiled a price adjustment implementation manual for s...
Nov 2 , 2024
Addis Abeba, fondly dubbed a 'New Flower,' is wilting under the weight of unchecked u...
Oct 26 , 2024
When flames devoured parts of Mercato, residents watched helplessly as decades of toi...
Oct 20 , 2024
Central Bank authorities have unveiled no less than six new guidelines to fine-tune t...
Oct 12 , 2024
In his inaugural address on October 27, 2024, Taye Atseqesellasie, the fifth presiden...