Memorandum of Understanding is signed between Ethiopia and China to start the construction of Adama Equipment Manufacturing Industrial Park.

The MoU was signed when Dr. Arkebe Equbay, Special Adviser to the Prime Minister, visited Hunan Province in China leading a delegation team.

Xu Xiangping, Director General of Hunan Province’s Commercial Department, on the Chinese side signed the MoU while Fitsum Arega, Commissioner of Ethiopian Investment Commission (EIC), inked the agreement on Ethiopian government’s behalf.

During its visit, the Ethiopian delegation team held meetings with Vice Governor of Hunan Province, Cai Zhenong. They discussed on ways of commencing the construction of the park as soon as possible.

The industrial park is expected to rest on 4.12 square kilometers and the construction is going to be carried out in two phases. The first phase will develop 1.19 square kilometers of land at a cost of 300 million USD.

Source: Fana Broadcasting Corporate