Fri. Jun 14th, 2024

Addis Ababa to Build 7.7 Billion Birr Industrial Park for SMEs

City administration of Addis Ababa on Tuesday signed a 7.7 billion birr agreement with two private construction firms to build an industrial park in the capital.

Mayor Adanech Abiebie witnessed the signing ceremony of the agreement between the city’s Mega Projects Construction Office, the owner of the project, and the two local firms – Primary Contractor MCG Construction Plc, and TNT Construction & Trading.

The Mayor’s office said the industrial park will facilitate the growth of small and medium enterprises in Addis Ababa through comprehensive industry cluster development.

The construction companies will be built the industrial complex on 94 hectares of land in the Akaki-Kality sub-city within 24 months.

The park will serve as a manufacturing hub for agro-processing, wood and metal works, leather and garment, and construction materials. It will also incorporate plastic, chemical, electronics, and pharmaceutical manufacturing firms.

The industrial park will have 21 major buildings to serve as shade for manufacturers including four 4500 square-meters G+4 blocs and 4500 square meters G+0 blocs, as well as 200 mega stores for input suppliers and product display shops.

Mayor of Addis Ababa, Adanech said the city administration will cover the entire 7.7 billion birr budget allocated for the construction project.

The decision to carry out the project, the Mayor said, emanates from the administration’s resolve to ensure the city’s economic transition that aims to save forex spending on imports by locally produced products.

The industrial complex will also help create employment opportunities, Adanech added.

The construction of the park alone is expected to create at least 15,000 job opportunities.

By Chala Dandessa

I am Lecturer, Researcher and Freelancer. I am the founder and Editor at ETHIOPIANS TODAY website. If you have any comment use caalaadd2@gmail.com as email contact. Additionally you can contact us through the contact page of www.ethiopianstoday.com.

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