The Turkish giant, Turkish Holding AS, intends to construct an industrial park in the Horn of Africa nation, Ethiopia. The industrial park will be focused on construction materials.

The holding company encompasses over 20 companies. This includes Turkey’s largest bank. It was after conducting research in Ethiopia’s construction market that the company decided to invest in the country’s construction material market.

According to Fortune, the construction sub sector makes up 50 percent of the industry’s share in Ethiopia’s gross domestic product (GDP). In addition to this, in the last fiscal year 10 percent of loans went to housing and construction.

The construction of the industrial park is scheduled to start by mid-2018. When it goes operational, the park would engage in ceramic production, steel manufacturing and pulp products.

Source: Fortune