An agreement was signed yesterday between the Industrial Parks Development Corporation (IPDC) and the National Investment Group (NIG), marking a significant step forward for Ethiopia's aviation industry. The USD 110 million deal paves the way for the manufacturing of aircraft components at Kilinto Industrial Park. Local production of aircraft components will not only reduce reliance on imports (import substitution) but also unlock export potential. Furthermore, the project is envisioned to propel Ethiopia to the forefront of African aircraft manufacturing, fostering knowledge and technology transfer within the sector. Notably, Kilinto Industrial Park II is being specifically developed as an aviation hub.

Source: Ethiopian News May 28, 2024 06:36 UTC