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El Sewedy to be First African Co. with Industrial Zone in Ethiopia

 

 

Girma Biru and Eyesus Work Zafu listen attentively to Faiza Aboulnagn (right), Ministry of International Cooperation of Egypt.

El Sewedy has requested two million sqm of land from a ready and willing Ministry of Trade and Industry to establish an industrial zone according to Girma Birru.

El Sewedy says that it wants to provide space for up to 120 factories in various sectors including pharmaceuticals, cables, transformers and agro processing. The company expects to spend 300 million dollars in the first phase of development for the industrial zone, according to Ibrahim Qamar, general manager of El Sewedy Cables.

“The financing will be provided by Egyptian companies,” he said.

A detailed plan of the project will be handed to the ministry in two weeks’ time, he added.

The government wants industrial zones to be located away from Addis Abeba, said Girma Birru, minister of Trade and Industry. Potential industrial zone sites have been prepared in Dire Dawa as well as in Kombolcha, in the Amhara Regional State.

“Our interest is for them to invest in the places we have prepared. If they do not like those sites, then we will talk,” Girma said.

El Sewedy is the first African company to show an interest in opening an industrial zone in Ethiopia. But China, India and Turkey already have such zones in the country. Companies from these countries have already started developing their respective zones.

The China Investment Group has its zone in Dukem, 37kms east of Addis Abeba in the Oromia Regional State. The group has allocated a 6.7 billion Br budget for the civil work required to prepare the zone for 80 factories.

The Ethio-Turkish Industrial Zone in Legetafo in the Oromia Special Zone has a budget of 10 billion dollars, according to Minister Girma. The ministry expects to receive a detailed study about this project within two months’ time. The Indian IAFKS is also to receive 300hct in Kombolcha, according to a senior official of the town administration who requested not to be named.

There are already two industrial zones around Addis Abeba which have been prepared by the government and given to various investors.

By WUDINEH ZENEBE
SPECIAL TO FORTUNE

 
 
 
   
   
   
 
 
 

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