Car Assembly Plant Inaugurated in Dire Dawa Free Trade Zone
The first car assembly plant in Dire Dawa Free Trade Zone (FTZ) was inaugurated on Saturday, according to the Industrial Park Development Corporation (IPDC).
Elauto Engineering and Trading Plc officially opened its assembly plant in the presence of the Mayor of Dire Dawa City Administration, Keder Jewar, and IPDC officials.
CEO of the IPDC, Sandokan Debebe hailed Elauto for becoming among the first private companies to start operating inside the Dire Dawa FTZ.
Sandokan said the company has been benefiting from various incentives reserved to encourage investment since the day a shade renting agreement was signed with the Corporation.
The level of support will also continue during the production period as well, announced the CEO of the government’s industry park developer.
Elauto invested more than $700 million to rent shade and build the vehicle assembly plant inside the Free Trade Zone, the IP development corporation said.
The manufacturing plant is expected to assemble 9,000 vehicles per annum and supply them to local and foreign markets.
Elauto already has an active agreement with Addis Ababa Lada taxi associations to supply vehicles that will gradually replace the blue taxis in the capital.
The assembly plant will create at least 400 job opportunities when it starts operating at full capacity.
The factory’s official opening on Saturday came a week after authorities launched Ethiopia’s first Free Trade Zone with the objective of attracting FDI, trade and export promotion, manufacturing, and creation of jobs, among others.
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