Africa-Press – Ethiopia. A state of the art plumping System manufacturing factory built with a cost of 14.5 million USD to curb supply shortages and encourage import substitution was inaugurated inside Adama Industrial Park.
The CEO of Industrial Park Development Corporation (IPDC), Aklilu Tadesse, together with Adama City Mayor, Hailu Jelde and other higher government official inaugurated the newly built factory.
Constructed on 300 meters square land, the factory is the first investment established with the joint venture of Ethiopian EZM Trade and Investment and the Chinese international firm, RIIFO CO.LTD.
The factory is believed to substitute products of plumping systems while helping to solve the supply shortages as it has an anual production capacity of up to 2 million meters PPR pipes and 1.9 million pcs of PPR fittings, 1 million meters of PVC drainage and 900 thousands pics of PVC fittings and 3.5 million meters of PVC conduit pipes.
The company will also create employment opportunities for more than 600 citizens.
Adama Industrial Park is one of the huge 13 investment hubs managed by the IPDC.
Foreign investors from Japan, China, India, Norway, United Arab Emirates and local companies are engaged in the 19 production sheds built in the park creating employment opportunities for more than 8,500 citizens.
The government of Ethiopia is implementing import substitution strategy by providing numerous supports to the manufacturing sector.
The import substitution strategy has so far been bearing fruit and the nation was able to substitute products such as textiles and food stuffs.
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