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Turkish firm to invest in huge industrial zone

25
Aug '09
A huge industrial zone has been proposed by a Turkish company in the Legetafo area of Oromia province which will be spread out over 1,460 hectares and encompass sectors like textiles, leather, pharmaceuticals and packaging.

It will build a vocational training centre to train new recruits to help the established companies employ trained people, apart from which the industrial complex will also have hospitals and hotels.

According to Chairman of Akgün Construction and Machinery, Mr Yusuf Akgün, which is setting up the industrial complex, “When fully occupied, the estate has the potential to provide employment to a million people”.

The consultancy firm that conducted the feasibility study of the industrial zone said that, this complex will help bring in over US $10 billion to Ethiopia as foreign investors will flock to the industrial zone in huge numbers.

The industrial zone is expected to cost $2 billion and will be the biggest Turkish investment till date. Over 60 Turkish companies have invested $160 million in Ethiopia, with lion's share invested in the textile sector.

Fibre2fashion News Desk - India


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