3 November 2018

Ethiopia: Turkey Eyes Ethiopia for Industrial Park

Photo: KLMircea
(File photo).

Turkey plans to build an industrial park estimated to cost 750 million euros in Tigray Regional State. It is expected to be situated on 500ha in the town of Ade Gudem in Hintalo wereda.

The administration of Hintalo wereda will give all the necessary support including granting the land for the industrial park, said Kelelie Hagaze, administrator of the wereda.

The construction of the industrial park will start next March and is expected to be completed within two years.

Turkish investment in Ethiopia has increased over the years. In 2016 and 2017 alone, 17 Turkish projects worth over 3.3 billion dollars have become operational. Ethiopia has thus far attracted over 2.5 billion dollars of the total six billion dollars of Turkish foreign direct investment in Africa.

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