Corporation Signs Agreement with Automotive, Textile Companies

Addis Ababa October 21/2014 The Industrials Parks Development Corporation (IDPC) has signed two agreements with Elauto Engineering and Trade PLC and Kambotes today to boost Ethiopia's export trade in automobiles and textile products.
IPDC Chief Executive Officer, Sandokan Debebe and Elauto Engineering and Trade PLC CEO, Bekele Abebe signed the agreement.

Sandokan said the Dire Dawa Industrial Park due to its proximity to port is important for exporting the manufactured automobiles.

He added that the total investment of Elauto Engineering and Trade PLC is 700 million birr.

CEO Bekele said on his part that the company will have the capacity of manufacturing 5000 automobiles earns 35 million USD annually.

He added that upon fully operational it will create 400 jobs.

In related news, IPDC has signed agreement with Dimitrios Kampouris, a textile and apparel company from Greece.

According to the agreement, the company is granted 1.8 hectares of service land to be developed into shades at the Bole Lemi Industrial Park in Addis Ababa.

The total investment of Dimitrios Kampouris is over 11 million USD and is expected to start production after 15 months.