Woda Steel Company, a Chinese company which is located in Sebeta town, signed a memorandum of understanding with Ethiopian Investment Commission (EIC) to upgrade itself to an industrial park. According to Steven Sue, Head of Woda, the industrial park will specialize in metal engineering, cables manufacturing, automotive, and tire industries.

During the signing ceremony, Daniel Teressa, Deputy Commissioner of EIC, stated that EIC would support foreign and local investors in the expansion of their investment activities in the country. He also pointed out that Woda’s transformation to an industrial park would contribute to job creation, import substitution, and knowledge transfer.

EIC stated that the industrial park would create 17,500 job opportunities. In addition, the park’s production would be aimed at both import substitution and export, it was learnt. The industrial park is expected to launch production within three years.

According to the EIC, there are four privately owned industrial parks in Ethiopia which are operational. Two of these industrial parks, Huajian Industrial Park and George Shoe Industrial Park, are found in Addis Ababa while the other two, Vogue Industrial Park and DBL Industrial Park, are found in Tigray Regional State. These industrial parks focus on textile and apparel and leather and leather products.

China Civil Engineering Construction Corporation (CCECC) is also constructing an industrial park in Dire Dawa on 1000 hectares of land. When the park is completed, it is expected to attract export-oriented investors into various investment sectors including textile and apparel, food and beverage, leather and leather processing, production of metal products, and manufacturing of machinery.

Source (including image): Ethiopian News Agency; Additional source: Ethiopian Investment Commission and Xinhua