Redawa Motors PLC signed an MoU with Ethiopian Investment Commission to form Redawa Industrial Park. The industrial park has a total investment capital of ETB 5 billion birr and is located in Dire Dawa.

The industrial park is the first industrial park to be developed by a local investor. It will host companies which are engaged in various economic sectors including automotive parts assembly, copper products manufacturing, and purification and bottling of water. It also plans to export its products to neighboring countries.

Ethiopia aims to create jobs in the industry sector for five million citizens in the coming ten years. It also plans to reduce import substitution and replace 60% of the products in the Ethiopian market with Ethiopian made goods within a decade.

Redawa Motors owns a vehicle assembling plant which is located in Dire Dawa on 116 hectares of land. It was the first company to introduce rickshaws to the Ethiopia.

Source: Ethiopian Herald

Additional source: Redawa Motors