Local Firms with 11.4bln Birr Capital Enter Industrial Parks

ADDIS ABABA – The Industrial Parks Development Corporation (IPDC) has signed lease contract agreements with three manufacturing companies joining industrial parks.

The firms with a combined 11.4 billion Birr investment capital secure developed manufacturing shades in three separate industrial parks.

The Corporation currently manages 13 state-owned industrial parks located across Ethiopia. Its officials say the newly signed contracts are the outcome of its ongoing efforts to attract more local and foreign investors to join the parks.  

Investment flow to parks has been increasing since the signing of the Peace deal ending the conflict in the north last month. More than 20 companies have since entered industrial parks to engage in the manufacturing sector.

Today, IPDC’s CEO Aklilu Tadesse signed the lease contracts with the owners of three companies engaged in oxygen and nitrogen production, pharmaceutical packaging, and printing.

The firms – Gumssa Trading Plc, Suji Lia & Doyo Manufacturing Plc, and Impac painting & Graphics Plc. – secure sheds in Jimma, Kilinto, and Addis Industrial parks, respectively

The manufacturing companies are expected to create more than 600 job opportunities when they start operations.