Ethiopian government will pay 15 percent upfront while the remainder of the fund for the industrial park project is a concessional loan arrangement with the government of China
August 14, 2019
Ethiopia and China are partnering on a new $300 million dollar Industrial Park project, according to a report by Chinese news source – Xinhua.
The Park will be constructed in Adama (Nazareth), in Oromo regional state, about 100 kilometers east of the capital Addis Ababa. When completed this industrial park will be the second one for Adma city.
The Chinese firm, China Civil Engineering Construction Corporation (CCECC), constructed the existing Adama Industrial Park at a cost of $U.S146 million dollars; it was inaugurated in October 2018.
Construction of the new industrial park could start as early as the end of 2019 according to Xinhua report. 100 hectares of land is allocated for it.
Works on land acquisition and financing-related procedures are already underway.
In terms of finance, 85 percent of the funding will be covered with a concessional loan from the Chinese government which is said to be of “low” interest rates.
The Ethiopian government will be covering the remaining 15 percent of the funding for the project.
Mr. Liu Yu, who is the economic and commercial counselor at the Chinese Embassy in Ethiopia, is quoted by xinhua as saying “The planned industrial park will focus on attracting firms engaged in equipment manufacturing.”
When completed, the project is expected to create as many as 25,000 jobs.
China has a strong business presence in Ethiopia in the areas including in infrastructure development and manufacturing sector – mainly textile industry.
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What music!!! What uplifting and soothing Miles Davis-Ali Biraa serenaded riff to my ears!!!!! Hit me with it once, twice, all day!!! Now all of us in the Diaspora should be part of the effort inviting every company that has mfg facilities overseas to consider such new and spanky industrial parks. There should Not be blinking at the facts that many products will never be back to be manufactured where they started either here in the USA or Europe. It will not be feasible. That old country should be weaned by hook or crook from the agrarian way of making a living. Industrialization is the only way out of the dire predicament in which it has been wading thru for quite sometime now. Without industrialization our more than half of us, our glorious women, will not be free. I can not stress it enough the fact that without their liberation there is no other effective and decisive way of putting a kibosh on this runaway population explosion without which that country will continue to be a nightmarish powder keg for itself and the world. Industrialization is also that elusive mojo to effectively yank away the hapless youth from hate mongering ‘liberation front’ and ‘media mogul’ connivers/bigots. So hit me with it!!!!! I will never ask you to stop!!!!
When the Chinese come and take your land to make products that will never reach the population, you are beyond thankful. You know they will just hire the locals at minimum wage and export all the products.
But when the local government decides to buy land for housing and other developments, you start talking about Oromia, Qerro, and land protection. Don’t be fooled.
Dear Aye has,
I would be happy to hear the alternatives from you. Please keep in mind that the reality is the old country is not a familiar face in the global market as a go-to product source. When is the last time or place you & I saw an Ethiopian trade delegation here in the USA o Europe with its own booth at trade shows? I never saw one. I have Chinese, Taiwanese, Japanese, Vietnamese, Turkish and very small booths by some other Asian, Latin American & European countries. A few other times I had seen booths by South African & Nigerian companies. Even those seemed to be there just to prove they could be there because you don’t see them again. But when it comes to the Chinese, it is a different story. Their booths are always crowded with potential buyers. Now as a designated factory of the world they own the lion’s share of the market with their fiercely aggressive sales force. So when the Chinese come to your country and set up factories they come with the market. They come to you because of labor cheaper than in China. That is the primary option to acclimate the haplessly unemployed youth with life in factories. Wages and benefits could be issues that should be addressed in the future but for now all I want to see is that old country turn itself upside down industrially beyond recognition. That has been my long held wish.
Oromo and Amara brought the great change adding others to join the great change, joining PM Abiy’s superb leadership team WHILE THE WHOLE WORLD witnessed the incredible results within just a little over a year’s time.
Just to name few of the achievements we seen within
the last year:
1.All of Querro are added.
2.All of Fano are added.
3.Ethnic Gedeo are added.
4.All of Hawassa residents are added.
5.Ethnic Sidama are added.
6.Addis Ababa residents are added.
7.Tigray residents except TPLF are added.
8.Diaspora except TPLF are added.
9.Somali region Ogaden residents are all added.
10.All of Afar are added.
11.Gambella residents are all added.
12.Benishangul Gumuz/Shinasha are all added.
13.Eritreans are trying their best to be permitted to get added.
14.Egypt is submitting to all of Ethiopia’s demands in regards to the Nile river.
15.For the first time in decades Al-Shabab is scared shit less of Ethiopian military.
16.Kenya is following Ethiopia’s order, to produce only green renewable energy.
17.Both South Sudan and Sudan are one step away from making ethnic federalism constitutional declaration system the countries follow as instructed by PM Abiy.
18.In Ethiopia for the first time ever, Price of goods and services are finally seeing a decline after decades/centuries of continuous rises.
19.In Ethiopia crime rate is at it’s lowest in decades.
Ethiopia’s economy is booming.
20.Foreign investors are pouring foreign currency into Ethiopia.
21.Health Care system of Ethiopia is being rated one of the top 3 health care systems in Africa.
AND MANY MANY MORE ACHIEVEMENTS WITH THE LIST BEING ENDLESS…
All these in just a little over a year, that is the power of being added (MEDEMER) for sure.
you are filled with a lot of arrogance and ignorance ii your brain to cite such events as achievements, where are you from, probably from the uncivilized and barbaric society of peoples in Ethiopia ,may God save you from such arrogance
Subject: “Ethiopia, China partnering on new $300 million industrial Park Project”
Commentary, 20 Sept 2019
Cooperation with other countries is unavoidable and, in fact, it is essential. What is absolutely even more essential is to realize that no DEVELOPED (ADVANCED) country on Earth goes into cooperation arrangement for HUMANITARIAN purposes. Let me be very blunt. If China is negotiating “partnering on new $300 million industrial Park Project” it is not — IT IS NOT — for humanitarian purposes. It is for China’s benefit, at the ‘end of the road’. Let us NOT– i.e. WE AFRICANS — kid ourselves. WE MUST LEARN FROM OUR PAST HISTORICAL RELATIONSHIP WITH THE REST OF THE WORLD. For how long is AFRICA going to be in the ‘ mud ‘ and be laughing stock of the World?!?! Even OUR INDIGENOUS DICTATORIAL AFRICAN leaders laugh and milk Africa to its bones for their own private pleasure. There is a mystery about Africa. THE END