President Dr Mulatu inaugurates car assembly plant
Addis Ababa, 8 May 2014 (WIC) - President Dr Mulatu Teshome inaugurated on Wednesday a new car assembly plant built a cost of 4.5 million USD in Dukem town.
Speaking on the occasion the president stressed the importance of investment in the automotive industry in Ethiopia since the country’s growing economy and the rise of the living standard of the people demand the subsequent development of the automotive industry.
Along with the inauguration of the new Lifan assembly factory was also launched Lifan 530 Model.
Chairman of Lifan Industry group Yin Mingshan said during the inauguration the Growth and Transformation Plan encouraged Chinese investors to invest in various development activities.
According to Daniel Tamrat, Marketing Head of the factory, Lifan will in the long run raise its production to 3,000 cars per year. The cars are reportedly of European standard.
Lifan has branches in Mekele, Hawasa and Dire Dawa, in addition to Addis Ababa, it was indicated.
According to ENA, the new Lifan Yangfan car assembly factory is built on 10,700 square meters of land in Oromia Regional State.
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