New Delhi, India―Kanoria Africa Textiles, a subsidiary of Kanoria Chemicals & Industries Ltd, has set up an integrated plant at Bishoftu in Ethiopia to manufacture denim fabric.
The plant was inaugurated by Prime Minister of Ethiopia Hailemariam Desalegn.
“Kanoria Africa Textiles Plc is setting up an integrated Denim project in Ethiopia, which is the first such project in East Africa.
“The state-of-the-art plant, set up at a cost of $ 50 million, will initially produce 12 million meters of high quality Denim fabric per annum,” Kanoria Chemicals & Industries said in a BSE filing.
“We expect that the project would become a shining example of India-Africa partnership. It is also a testimony of increasing overseas Indian investment,” it added.
Source: The Hindu Business Line
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