China-Africa Development Fund and by the Xinxiang, Henan, China Tannery Limited black sky bright foreign joint venture China-Africa Leather Industry Co., Ltd. recently opened in Africa and Ethiopia, which is Africa's largest leather production enterprises.
Opening ceremony on the morning of the Ethiopian capital of Addis in Palestine and Israel from more than 20 kilometers north of the town of Sulu Da factory was held. African Leather Industry Co., Ltd., He Mingliang Yang said total investment of 2700 million U.S. dollars, since July 2009 ground-breaking plant has been in Ethiopia with the support of the government departments concerned, after a year of hard work finally been completed production.
The leather factory put into operation, will bring 500 local jobs, about 50,000 farmers indirectly promote the livestock and aquaculture industry and other related industrial chain development, as well as Ethiopia, an increase of approximately $ 20,000,000 in the export of foreign exchange . The company completed the first phase of the project put into operation, will continue to launch the second phase of the leather items, continue to invest 25 million U.S. dollars, the establishment of Nissan 2000-2500 leather production line, to establish sets of leather processing, leather products, sales, R & D in integrated group of companies, and ultimately reach an annual sales goal of $ 120,000,000.
Ethiopia ranks of livestock resources in Africa, the head of the Ethiopian leather industry in China and Africa share the company's foreign production is not only conducive to Ethiopia and leather processing livestock industry development and upgrading, while promoting local employment and improve livelihood, and will also support the Africa Fund, other Chinese companies to invest in Africa to play an exemplary role. China Development Bank and the Africa Development Fund has and will continue to support Chinese enterprises to invest in Ethiopia.
Ethiopia Industry Minister Ta Desai said that the current Ethiopian economy is in a period of rapid development, the Ethiopian government is taking all measures to attract foreign investment, foreign leather industry in Africa has put into operation not only stock company that will help Ethiopia's raw material advantage, but also help to improve Ethiopia's leather industry standards, and achieve value-added product processing, and will increase the export of foreign currency in Ethiopia.
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