India’s Ambassador to Ethiopia, Sanjay Verma, disclosed companies from his country are making preparations to make an aggregate investment of U.S. $ Two Billion.

The Ambassador noted there are favorable investment opportunities, sitting reliable peace and fast economic growth, and that Indian investors are ready to seize the opportunity.

According to him, the trade and investment volume of Ethiopia and India have reached U.S. $ 1.2 Billion. In order to further strengthen the bond, the Ambassador noted, India is finalizing preparations to establish the biggest agricultural and science center in Africa and a textile industry cluster in Kombolcha town.

In addition to this, Verma recalled his country extended U.S. $ One Billion Birr to Ethiopia for the latter’s mega projects; specifically electric transmission lines, railway construction, sugar factories and irrigation.

Source: Ethiopian News Agency