Thursday, November 22, 2012
As part of Ethiopian government's plan to spur the country's industrialization, the Ministry of Industry (MoI) signed a deal worth over 636 million birr with 12 local private construction companies and a Chinese contractor, CGC Overseas Construction Companies Ltd., whereby the latter would undertake the civil work of the Bole-Lemi Industrial Zone.
According to the agreement, the private contractors will carry out the first phase of the construction which includes putting up infrastructure as well as warehouses that would accommodate various factories.
The ministry also said that the construction of the industry zone will attract Foreign Direct Investment (FDI).
In line with the nation's Growth and Transformation Plan (GTP), the government is set to establish new factories in major towns including Dire Dawa, Kombolcha, Hawassa and others.
Textile, agro-processing, manufacturing, metallurgy and similar other strategic sectors have been accorded priority bu the GTP.
The overall cost of the industry zone project, which is estimated to be some 1.2 billion birr, will be financed by the Industry Development Fund and partially by Ministry of Finance and Economic Development (MoFED).
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