Ethiopia's Deputy Prime Minister, Temesgen Tiruneh, announced a significant shift for the Ethio-Engineering Group, revealing their upcoming transition to assembling electric vehicles and machinery.
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The Mekele Industrial Park in Ethiopia is back in business. After a two-year pause due to the Tigray conflict, the Industrial Parks Development Corporation (IPDC) announced the park's successful return to full-scale production. Existing companies have already restarted operations, and the park is attracting fresh interest from new investors.
The Tana Beles sugar factory, envisioned as a solution to Ethiopia's sugar supply woes, has yet to launch operations this year due to unforeseen challenges.
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Ethiopia's Ministry of Industry (MoI) has introduced a new policy that focuses on import substitution as a means to enhance domestic production and reduce dependence on imports. This represents a departure from the previous emphasis on export-led manufacturing.
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The Ethiopian Sugar Industry Group has declared the commencement of sugar production for the 2024 season at the Omo Kuraz No. 3 Sugar Factory, as sugarcane grinding operations are now underway. The production plan for this year aims to yield 245,927.5 quintals of sugar, utilizing 4,600.5 hectares of land dedicated to sugarcane cultivation.
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Nirvana Processing, an Indian Company, is set to commence agro-food processing in Ethiopia's Bahir Dar Industrial Park with a 5 million USD investment.
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