Woda Metals Industry Plc, a major transmission tower and radio mast manufacturer in Ethiopia, is set to develop its factory in Sebeta town into an industrial park.
On Wednesday, officials of the company signed an agreement with the Ethiopian Investment Commission (EIC) on the expansion project that will transform the metal manufacturing plant to an industrial level.
The signing ceremony, held in presence of the Embassy of China, JETRO, and government officials, comes after the decision on the project was approved by the Ethiopian Investment board.
Woda Metals Industry is a company incorporated in China, Japan, and Co registered by law in Ethiopia in 2016 with a total investment of $65 million.
The newly signed agreement will help the company expand from its current 18.9 hectares of the operational factory, located 35 kilometers from Addis Ababa, to 100 hectares of land.
It will invest 95 million US dollars on the three-year expansion project that will employ eco-industrial park principles, officials said.
The park will host manufacturers to engage in the production of Metal and Engineering, Cables manufacturing, Automotive, and Tire industries, according to the Ethiopian Investment commission.
“Manufacturers inside the park will engage in highly import-substituting and hard currency generating products,” the EIC. “The park will facilitate knowledge and technology transfer by creating more than 17,500 job opportunities.”
“With enhanced infrastructure facilities, utility supply, and OSS government services, WODA IP will help in realizing efficient production plants specializing in government priority sectors,” it added.
