Chinese company leases industrial sheds in Debre Birhan park

ADDIS ABABA – Industrial Parks Development Corporation (IDPC) said that it has leased in Debre Birhan Industrial Park factory sheds for Chinese Company, Shang Cheng Ltd, to commence investment operation.

It also revealed that the corporation has garnered 32 million Birr profit within the six months of this budget year. This trend has helped IPDC make history since it has been operating in a state of insolvency earlier.

In a press briefing held recently, IPDC Planning and Monitoring Head Tsegay Zakariayas stated that IPDC has handed over factory shades to Shang Cheng Ltd upon the agreement IPDC signed with this company at the end of last year.

Shang Cheng Ltd has registered 15 million USD capitals ,he said adding that when the company goes fully operational , it will push the export rate to over 20 million USD and create 2,000 jobs for the citizens.

Tesgay further said that power shortage, COVID-19 and northern Ethiopia’s conflicts are among the challenges that have hindered better performance of the corporation over the last six months.

Besides, IPDC has commenced construction of workers house at Hawassa Industrial Park to address employees housing difficulties. Cornerstone Development Group has commenced the housing construction at 2.08 hectares of land with total cost of 13.63 million USD. Some 6,500 employees will benefit out of this project, it was learnt.

He said : “IPDC has prepared Echo-industrial document intended to avoid environmental pollution and risk happened due to wastes dumped from industrial parks. Accordingly, IPDC has facilitated waste filtration construction. Nearly one million cubic meter waste is filtered and some half million cubic meter filtered waste is recycled during the first six month performance of the budget year.”

IPDC also planted over half a million tree seedlings in various industrial parks in a bid to contribute its share to the national green legacy campaign. During this period, IPDC has reached an agreement and commenced working on some 19 project with an outlay of over 11 million Birr, he underscored.



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