Third bid is announced by Ethiopia Investment Commission (EIC) for the sheds in the Hawassa Industrial Park.

Among the sheds offered for bid, 4 of them lay on 5,500 square meters while 1 lays on 11,000 square meters of land. These sheds could not attract bidders in the past 2 occasions when Industrial Park Development Corporation’s (IPDC) announcement the bids.

The bid offer is scheduled to be opened on May 31, 2016 and it includes additional 3,000 square meters factory sheds in Adama, Kombolcha, Meqelle and Dire Dawa industrial parks.

When the contract for construction of Meqelle and Kombolcha industrial parks were signed IPDC’s CEO, Sisay Gemechu, explained the small factory sheds were being constructed in response to the complaints of local investors regarding their limited capital potential to compete in the initial bids for park sheds.

According to Fortune, investors who will engage in the industrial park will be provided with loan incentives of 85 percent loan capital investment, training and technical support and marketing network respectively.

Within 5 years the companies are expected to have annual returns of 25 percent on their investments. However, local investors that engage in Hawassa Industrial Park are expected to repay their loans and upgrade their potential to 75 percent of foreign investors’ capacity and quality.

Source: Fortune