Ethiopia, China sign MoU to begin construction of Adama industrial park soon

Addis Ababa, March 16, 2016 (FBC) –Ethiopia and China have recently signed a memorandum of understanding (MoU) to commence the construction of Adama equipment manufacturing industrial park soon.
The MoU was signed during a visit paid to Hunan Province, China, by the Ethiopian delegation led by Dr Arkebe Equbay, a Special Adviser to the Prime Minister.

Fitsum Arega, Commissioner of Ethiopian Investment Commission (EIC), and Xu Xiangping, Director General of Hunan Province’s Commercial Department, signed the agreement on behalf of their respective country.

The accord was also signed with heads of Hunan-based giant companies, namely SANY Group Co. Ltd, and TBEA Southern Power Transmission and Distribution Industry Group, among others.

During the visit, Ethiopian delegation discussed with Vice Governor of Hunan Province, Cai Zhenong, on ways of commencing the construction of the park as soon as possible.

The delegation also visited companies located in the Province as well as held discussion with heads of the companies and Commercial Department of Hunan Province, according to a statement the Commission sent to FBC today.

Adama equipment manufacturing industrial park will rest on 4.12 square kilometers of land and its construction will be carried out in two phases.

The first phase, to be erected on 1.19 square kilometers, will consume more than 300 million US dollars.