The Hawassa Industrial Park, 275 kilometres south of Addis Ababa, Ethiopia. (File Photo: Xinhua/Michael Tewelde)
Ethiopia will commission Chinese-built Kilinto industrial park (KIP) which will host pharmaceutical companies in June, an Ethiopian official said on Thursday.
Adenan Bere, Communications Director, Ethiopia Industry Park Development Corporation (IPDC), said KIP was built with a view to attracting world class companies, state-affiliated media outlet Radio Fana reported.
She further said IPDC is working with local banks to create financial incentives for local firms to invest in the pharmaceutical industrial park.
Kilinto industrial park lying on 270 hectares of land is being constructed by China Tiesiju Civil Engineering Group Co., Ltd. (CTCEGCL) at a cost of 204 million U.S. dollars. The World Bank is wholly financing the construction of the industrial park through a loan scheme.
KIP, when completed, will encompass 18 kms of asphalt roads, provision of basic social services, green spaces, warehouses, business centers and car parking space.
Ethiopia is currently constructing or has commissioned 15 industrial parks as part of plan to turn the country into a light manufacturing hub in Africa by 2020.