On 6th January, Dongguan Huajian Group signed a US$30 million contract with Xinjiang TBEA Group for a substation project which will provide electricity for Huajian International Light Industry City in Ethiopia.
Both Xinjiang TBEA Group and Dongguan Huajian Group are honoured model enterprises in the context of China’s “One Belt, One Road” initiative. This project is an important platform for enterprises to participate in the construction of the initiative and help realize the internalization strategy.
As a manufacturer in the light industry, the Ethiopia-China Huajian International Light Industry City presents technology, efficiency, civilization, harmony, and eco-friendly as its core themes. With a gross investment of US$1 billion it is heavily involved with export processing, trade, services and aims for construction to be fully completed by 2020. At that time, it will be the newest spotlight in Ethiopian light industry development, and forecasts an annual foreign exchange surplus of US$2 billion, creating 50 to 60 thousand jobs for locals. It will also encourage more Chinese light industries to “go global” and achieve integrated development in Africa.