Close to 4 billion USD agreements were signed between Ethiopia and Chinese giant companies
Close to 4 billion USD agreements were signed between Ethiopia and Chinese giant companies. The agreements include 1.8 billion USD with the State Grid Corporation of China, whose main target is providing for the power generation of 16 industry parks including the Addis-Djibouti railway. Tyson Group and Green Diamond Companies in collaboration will engage in pulp and paper production in Benshangul Gumuz Regional State to produce up to 1 million ton paper per annum.
The two companies will invest some 2 billion USD during their actual operation and also are expected to play their crucial role in boosting the FDI. According to Abeba Abebayeyu, Commissioner of Ethiopian Investment Commission (EIC) the agreements will further boost the country’s investment.