Ethiopia: Investors with $100mln Capital enter Industrial Parks

Source: Ethiopian Monitor

ADDIS ABABA – Eleven domestic and foreign companies secured lease contracts to set up their manufacturing plants inside Ethiopian industrial parks.

The Industrial Parks Development Corporation (IPDC) says its CEO Aklilu Tadesse signed the contracts with the executives and representatives of the companies on Thursday.

The investors will receive more than 31,000 square meters of production sheds and 4.5 hectares of serviced land, per the contracts.

The new entrants with a combined registered capital of more than $100 million will erect their manufacturing plants in five IPDC-managed industrial parks.

They will engage in the production of garments and textiles, agro-processing, pharmaceuticals, plastic recycling, and more for local and international markets, the IPDC says.

The corporation further states that the manufacturing plants will create 5000 new job opportunities when fully operational.

The IPDC manages twelve state-owned industrial parks and one free trade zone across Ethiopia.

The industrial parks host more than 130 local and foreign companies engaged in various sectors, creating 100,000 permanent and temporary job opportunities.

THE AUTHOR: Ethiopian Monitor

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