The agreements were signed between IPDC's CEO Aklilu Tadese (right) and respective officials of the companies on Saturday.
BusinessNews

Local firms with 8.2bln Birr Capital Enter Industrial Parks

ADDIS ABABA – Ten Ethiopian firms have landed contracts for manufacturing spaces in various industrial parks.

The manufacturing companies have a combined investment capital of 8.2 billion Birr, said the Industrial Parks Development Corporation (IPDC).

The IPDC, a public enterprise, manages 12 state-owned industrial parks or IPs across Ethiopia. Its officials have been encouraging local manufacturers to join the industrial parks and begin production.

IPDC’s CEO Aklilu Tadese signed contract agreements with the respective officials of the local firms on Saturday.

As per the deals, the companies will get sheds and serviced land with complete infrastructure inside the parks. These industrial parks include Bole Lemi, Kilinto, Semera, Adama IPs, and Dire Dawa Free Trade Zone.

The companies will soon start installing their manufacturing plants which will create at least 7,400 jobs up on starting productions, the IPDC disclosed.

These jobs will add to the 36,800 new jobs created inside industrial parks in the last nine months, as per the enterprise’s report released this week.

In the same period, exports of products made in the IPs also generated nearly $122 million forex. The industrial parks also supplied products valued at $129 million to the local market.