The Ministry of Industry, Ethiopia and the Oromia Regional State signed an agreement with Turkish Investors for the development of 640 hectares of land.
The contract establishes that the investment on the land will include pharmaceutical, garment, leather processing and paper and packaging factories amongst others.
The zone will also include social service institutions such as health care, schools, technical and vocational training and hotels.
The complex will be one amongst the series of new industrial parks to be developed around the country. In related news Ethiopia expects to inaugurate the first industrial zone under management by the Industry Zone and Environmental Protection Agency in the coming September.
The Bole Lemi Industry Zone located on 156 hectares is planned to be completed in time for the Ethiopian New Year and will be opened to domestic and international developers said Melaku Taye, Head of Public Relations with the Ministry of Industry.
The MoI has also received more land from the Addis Ababa City Government and from regional states to develop and manage other industrial zones he said..
The ministry has received 243 hectares in Akaki Kality sub city from the Addis Ababa City Administration and 1051 hectares from the Dire Dawa City Administration explained Melaku.
Other plots of land have also been acquired in Kombolcha (Amhara Regional State), Mekele (Tigray Regional State), and Hawassa (Southern State) he added.
These and other zones will be developed by the government equipped with full facilities including financial institutions and government offices said Melaku.