Parker Clay, Akshay Jain Agree to Enter Ethiopian Industrial Parks

Two private manufacturing firms, Parker Clay Plc and Akshay Jain have today agreed to start operations inside the Addis Ababa and Jimma industrial parks, respectively.

The Ethiopian Industrial Parks Development Corporation (IPDC) on Monday signed the memorandum of understanding with officials of Parker Clay Plc, and Akshay Jain Plc, respectively.

Accordingly, Parker Clay manufacturing will invest at least 30 million Birr on 1,150 square meters of shade inside Addis Industrial Park.

The company plans to manufacture leather products in its newly acquired shade and expects to eventually create job opportunities for at least 300 people.

Akshay Jain Company, on the other hand, will invest some 884 million Birr on 40,000 square meters of land inside Jimma Industrial Park to install an Avocado oil, Biodiesel, and Biofertilizer plant.

Many people will get job opportunities inside this plant, its officials said.

Officials of both companies stated their plan to immediately start activities to start production and export their products to the international market.

Deputy CEO of the IPDC, Shiferaw Solomon, said the corporation will provide the necessary support for both companies to carry out their businesses on time.

The IPDC, a public enterprise, currently manages 13 industrial parks where a total of 125 companies, both local and foreign, have invested in various sectors. IPDC officials say more foreign companies are now interested to enter the industrial parks.

Last week, International business Boeing said it is keen to enter the industrial complexes during a visit to three industrial parks in Addis Ababa by officials and experts from Boeing, Skytech, and Ethiopian Airlines.

The delegation from the companies also visited a production process of a Korean company named Shints in Bole Lemi Industrial Park. The delegation’s members said that they would like to take advantage of potential investment possibilities and collaborate with the company.

Officials from Boeing, Sky Tech, and Ethiopian Airlines are included in the delegation, along with producers of aircraft wire, insulation blankets, and facility equipment maintenance, according to IPDC.


Leave a Reply

Your email address will not be published. Required fields are marked *