Addis Ababa, August 18, 2023 (FBC) – Ethiopian Airlines Group, Ethiopian Investment Commission (EIC) and Industrial Parks Development Corporation of Ethiopia (IPDC) have signed a Memorandum of Understanding where Ethiopian Airlines will set up an aerospace parts manufacturing facility on a 4 hectares plot of land at the Kilinto II Industrial Park to enhance its aerospace manufacturing capacity.
It is noted that the airline has planned to invest USD 15 million during the first phase of the project.
As the airline’s supply of aircraft parts to Boeing will continue to upsurge, the new facility will enable the airline to cater for the growing demand thereby creating additional employment opportunities and foreign exchange earnings, it is stated.
Chief Executive Officer of Ethiopian Airlines Group, Mesfin Tasew, said that the project will generate a huge foreign currency by manufacturing aerospace parts in the country and supplying them to aircraft manufacturers.
Aklilu Tadese, CEO of IPDC, said that it is great to see Ethiopian Airlines, the pride of Ethiopia and Africa, is engaged in the manufacturing sector.
He confirmed that IPDC is committed to providing the necessary support for the implementation of the project.
It is learned that the project is expected to create job opportunities for more than 300 citizens.