Ethiopian Government and China EXIM Bank Signed Loan Agreement on Industrial Zone Implemented by CGCOC
In May 19th 2017, Ethiopian Ministry of Finance and Economic Cooperation and China EXIM Bank signed Loan Agreement on Adama (Ethiopia-Hunan) Machinery and Equipment Industrial Zone. Adama zone, the first industrial park project sponsored by Chinese government since the release of Ten Plans for Sino-Africa Cooperation, will be constructed and partially operated by CGCOC.
Ethiopian Prime Minister Hailemariam Desalegn, China EXIM Bank President Liu Liange, and governor of Hunan Province Xu Dazhe witnessed the signing ceremony. CGCOC president Ji Weimin, vice-president Gaolei and marketing director attended the ceremony.
The Industrial Zone is also No.1 production capability “go abroad” project of Hunan Province. The design and construction will be conducted with Chinese standards and Chinese experience of operating industrial zones. Hunan leading companies including Sany Heavy Industry Company, TBEA Hengyang Transformer Company, Foton Automobile are planning to establish factories in the zone, which will definitely add vitality to Ethiopia’s industry development.