Chinese company to build industrial village with 7.8 billion birr
According to the agreement Eastern Industrial Group would build an industrial village on 500 hectares in Bishoftu and Dukem towns of East Shoa Zone.
More than 80 factories that produce metal, water pipes, construction and household utensils, corrugated iron sheets, electric and telephone cables, agricultural equipment and textiles, among others ,would go operational in the first phase and expansion works would follow next, the agreement indicated.
Upon going fully operational, the factories would create jobs to over 12,000 citizens.
During the signing ceremony, Oromia Investment Commissioner Alemu Sime said that both the federal and the state governments are working strenuously to encourage investment as it plays key role in poverty reduction.
Some 5,000 licensed investment projects with a combined capital of over 78 billion birr have gone operational in the state owing to the conducive investment climate created in the country, the commissioner added.
Company President Lu-Qi-Yuan on his part appreciated the warm welcome accorded to them by the state government and pledged to immediately begin construction.
The president further said the company has a desire to increase the investment activity on 1,000 hectares.
