ADDIS ABABA, Aug. 11 (Xinhua) -- The Ethiopian Investment Commission (EIC) on Wednesday signed an agreement with China's WODA Metal Industry Private Limited Company (PLC) and its partners to build an industrial park in Ethiopia. The agreement involves the upgrading of the WODA Metal Industry PLC into WODA Industrial Park with an outlay of 95 million U.S. dollars at Sebeta town on the outskirts of the Ethiopian capital Addis Ababa. When it gets fully operational, WODA Industrial Park is set to manufacture electric vehicles, rubber, home appliances and power equipment and supply them to the Ethiopian and east African market. "We will be focusing not only on the Ethiopian market but also the whole eastern African market. Official reports indicate that Ethiopia relies heavily on imports of tires and power distribution equipment, in which the WODA Industrial Park, once operational, is expected to help Ethiopia get the products locally through recycling of waste tires using new technology.

Source: Ethiopian News August 12, 2022 00:40 UTC