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.