Chinese investors have built Ethiopia's first glass factory worth $15M, the Ministry of Trade and Industry recently announced. The Chinese have been investing heavily in Africa, especially in resource rich areas. However, figures of their investment in Ethiopia were not readily available. The China-Africa Development Fund, a private equity fund set up in 2007, funded the factory's construction. It plans to spend around $300M on projects on the continent in 2008. "About 30% of the glass sheet produced by the factory will be for local use and the remaining 70% for export to East African countries," the ministry said. The Chinese construction company, CGC Overseas, built the factory in a suburb of the capital and plan to produce up to 60,000/tpa. Raw materials will be obtained locally but soda ash would be imported, it said.
