Chinese manufacturing giant Huajian Group has signed a USD 100 million investment agreement to launch operations in Ethiopia’s Gada Special Economic Zone, focusing on solar energy production and exports.

The agreement was signed by Motuma Temesgen, Director General of the Gada Special Economic Zone Authority, and Zhang Huarong, CEO of Huajian Group. Under the terms of the deal, Huajian will develop a solar manufacturing and export facility, with construction set to begin within three months. The company has already secured the construction site within the economic zone.

Ato Motuma Temesgen said, “Preparations are being made to create a favorable investment environment for investors engaged in various sectors in the Gada Special Economic Zone.” He noted ongoing efforts to develop essential infrastructure, including power supply, lighting, roads, water, and other resources.

Huajian CEO Zhang Huarong attributed the decision to invest in Ethiopia to recent macroeconomic improvements in the country, which he said have created a more attractive environment for international investors.

Both parties emphasized their shared commitment to driving forward sustainable development and economic growth through the solar energy sector in the Gada Special Economic Zone.

Source (including image): Fana BC