Turkish investors set to build a 750 million euro Industrial parking Tigray regional state, Fana broadcasting corporate reported.
The investors have discussed with the local community and government officials on the application of the project.
The park which will cover 500 ha is expected to use the world’s best and new technologies, according to the report.
Kelele Hagaze, an administrator of Wojerat District, said that the administration will provide all the necessary support including the transfer of land needed for the park.
On the discussion held with the local community and regional, the investors stated that there are high land resources and human resources in the area.
The construction of the industrial park will begin in March and expected to complete in two years time.
Aiming at becoming a middle-income industrialized nation by 2025, Ethiopia has built many industrial parks and industry Zones throughout the regions, to attract investment in various industries.
Ethiopia strives to be the hub of light manufacturing industries in Africa, placing an ambitious plan to develop world-class industrial parks with fascinating hard and soft infrastructure.
Last year, according to reports from Ethiopian Investment Commission three industrial parks in Ethiopia, Hawassa, Bole Lemi, and Eastern Zone had generated 248 million US dollars, from the export of various products in the last fiscal year.
In 2016, Ethiopia stood second in terms of attracting foreign direct investment in the textiles and garment industry next to Vietnam.