Six local and international investors, collectively contributing over $60 million, have officially launched construction and machinery installation at the Bole Lemi Special Economic Zone (SEZ). These investors recently entered into service level agreements with the Industrial Parks Development Corporation (IPDC).
Feseha Yetgesu (PhD), CEO of IPDC, described the developments as a crucial advancement for industrial growth within the SEZ. He conducted an on-site visit to assess the progress of the construction efforts.
According to the CEO, most of the investors are nearing completion of their construction and equipment installation phases, gearing up for the start of production. The investors, who finalized agreements with the corporation during the current fiscal year and at the close of the 2016 fiscal year, are laying the groundwork to commence their operations.
Once they become operational, these enterprises are projected to create over 2,000 permanent jobs for local residents, thereby enhancing economic development and employment opportunities in the region.
The Bole Lemi Special Economic Zone, one of the 11 industrial parks designated as SEZs by the Ethiopian Investment Board, continues to draw substantial investment, positioning it as a significant player in Ethiopia’s industrial expansion.
Source: FMC
