Kanoria Chemicals & Industries (KCI) is planning to set up a 12-million-metre-a-year denim fabric unit in Ethiopia. It aims to invest $30 million for the same. The company is likely to buy 50 acres of land for the project, which is scheduled to come on stream by December 2013.
The plant will have spinning (1440 rotors) and weaving (60 looms) units, a dyeing facility and a finishing line. Through this, the company will provide access to local long-staple cotton, low-cost energy, duty-free access to the US, Canada and the EU and tax incentives to its wholly-owned subsidiary Kanoria Africa Textiles Plc.
Kanoria Chemicals & Industries is engaged in the manufacture and sale of chemical intermediates in India. It offers chlor-alkalis, chlorine derivatives, and water treatment chemicals, as well as alcohol-based intermediates.
