Yangfan Motors Expanding its Assembly Plant in Ethiopia

Yangfan Motors P.L.C., a Chinese based Company, is to expand its vehicle assembly plant in Ethiopia at a cost of US$4.2 million.

The company has been assembling vehicles during the past four years in Ethiopia. Yangfan Motors signed agreement on Thursday for purchase of its assembling and manufacturing facility with Eastern Industry Zone located in Dukem, Oromia Regional State.

Liu Jiang,  the Company's General Manager  on said the company has supplied close to 3000 vehicles to the Ethiopian market so far.

The new plant, which will go operational within the next six months, will increase the company's annual production capacity to 5000 units from the current 1000 units.

Source: ENA

 

 

Exchange Rates

Selling
Buying
USD 49.0098  48.0488 
GBP 62.3107  61.0889 
EUR 55.5232  54.4345 
CHF 50.8687  49.8713 
CAD 34.6488  33.9694 
AED 12.0739  11.8372