Jointly established by the China Africa Development Fund and Henan Xinxiang black day bright tanning Co., Ltd.

The opening ceremony was held in the company's factory area more than 20 kilometers north of Addisababa, capital of Ethiopia.

He Mingliang, chairman of Limited by Share Ltd of China Africa leather industry, said that the project was launched in July last year with a total investment of US $27 million.

After the first phase of the project is put into operation, it will create 500 employment opportunities for the locals, indirectly lead to the development of livestock and aquaculture and other related industries of about 50 thousand farmers, and earn about 20 million US dollars for the export of Ethiopia.

He said that the two phase leather project is expected to continue to invest 25 million US dollars to form an integrated group company which integrates leather processing, sales and scientific research to achieve the goal of annual sales of US $120 million.

Tadese, Minister of state of Ethiopian Ministry of industry, said that Ethiopia's economy is in a period of rapid development, and the government is taking all measures to attract foreign investment.

The operation of Limited by Share Ltd in the Sino African leather industry is conducive not only to the advantage of raw materials in Ethiopia, to upgrading the tannery industry level, to achieving value-added product processing, but also to increase Ethiopia's export earnings, and the Ethiopia government is willing to provide support for the development of enterprises.