An agreement was signed yesterday between the Industrial Parks Development Corporation (IPDC) and the National Investment Group (NIG), marking a significant step forward for Ethiopia's aviation industry. The USD 110 million deal paves the way for the manufacturing of aircraft components at Kilinto Industrial Park.
The first digital video disc (DVD) manufacturing plant in Ethiopia was officially opened in Dukem. The plant is owned by Kolya Manufacturing S.C. The plant is found in Dukem Industrial Zone and the company invested 50 million Birr. It was only after 3 years that the manufacturing plant came to fruition.
Kombolcha Industrial Park (KIP), one of the private parks in Ethiopia built at an outlay of 90 million USD, is scheduled to start production by February 2018. The industry park was inaugurated last July.
Kombolcha – Mile road project, which stretches for 133 kilometers and connects Amhara and Afar states, has been completed 4 years after its start construction.
Hyosung Corporation, a South Korean company, and Ethiopian Electric Power (EEP) inked an agreement for the construction of the Southern Electricity Grid Expansion Project. EEP also signed an agreement with another South Korean company, Byucksan Power Co. Ltd., for consultation services on the project.
Hyosung Corporation will be engaged in building new power transmission lines and distribution stations on the Southern Electricity Grid. It is also expected to build a 420KM long electricity transmission line and construct, test, and inspect three new substations.
Korea Exim Bank will provide a loan of USD 178 million which fully covers the budget of the project. EEP stated that the project was planned to be completed in three years.
Source (including image): Fana BC
