ADDIS ABABA – Government’s top industrial park developer and two companies on Thursday signed two separate agreements granting them spaces for automobile assembly line and textile manufacturing in Dire Dawa and Bole Lemi Industrial Parks, respectively.
Sandokan Debebe, CEO of the Industrial Parks Development Corporation, first signed with Elauto Engineering Plc which will allows the company set up vehicle assembly line inside the newly inaugurated Dire Dawa Industrial Park.
The agreement grants 11, 000 square meter land inside the Park located in Eastern Ethiopia.
The company chose the park due to its proximity to port that will ease exporting the manufactured automobiles, officials said.
The two companies will invest 700 million birr to set up the plant that will have a full capacity of assembling as many as 9, 000 automobiles, annually.
It will export at least 50 percent of them and plan to earn 35 million US Dollars annually.
On the same day, Sandokan also signed another agreement with Dimitrios Kampouris, a textile and apparel company from Greece.
The agreement grants 1.8mln hectares of developed land inside Addis Ababa’s Bole Lemi Industrial Park.
The total investment of Dimitrios Kampouris is over 11 million USD and is expected to start production after 15 months.