Hawassa Textile Factory S.C., to be renovated into a textile and industrial zone, is expected to be leased to a single company upon completion. The factory, which was secured by local investors for half a billion Birr, will be revamped into an industrial zone by Sinoma International Engineering, a Chinese construction company, which also built Dangote Cement Plc and Derba Midroc Cement Plant. The industrial park will have a total of 14 sheds resting on 11,000Sqm. Each square metre will have a lease cost of four dollars for the first year and is expected to increase by a dollar annually. The lease contract will be for a total of 22 years. The textile plant, expected to be completed in 18 months, was first established in 1989 and transferred to Dukem Textile S.C., 60pc of which is owned by foreigners and 40pc by local investors.
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