The Industrial Park Development Corporation (IPDC) held discussions on May 24, 2016, with the Hunan Province Delegation representing four Chinese equipment and machinery manufacturing companies interested in investing in Adama Industrial Park. CGC Overseas Construction Group has been contracted to build the factories while EXIM Bank of China is the financier projected to forward half a billion dollars to finance the companies' investment.
The visit of the Hunan Province delegation follows the Ethiopia Investment Commission (EIC) and Hunan Province Memorandum of Understanding signed at the beginning of March. The MOU focused on the Ethio-Hunan Industrial Park (the new name for Adama Industrial Park); as well as basic infrastructure and the enterprises' interest in constructing 20pc of each commercial building inside the industrial parks.
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