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.

IPDC CEO Akililu Tadesse hailed the agreement as a turning point. 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.

The nation has placed a strategic focus on various industries, including garment and textile production, pharmaceuticals, agro-processing, free trade zones, machinery, and automobiles. Notably, Kilinto Industrial Park II is being specifically developed as an aviation hub.

Akililu highlighted the success of existing industrial parks, with over 130 local and international companies currently operating within them. These parks have demonstrably created over 100,000 jobs and established market linkages for 300,000 farmers. Upon completion, the project is anticipated to generate over 1,000 new jobs for Ethiopian citizens.

Source: The Ethiopian Herald