Chinese EVs, office furniture manufacturer to invest 2.6bn Birr at Bole Lemi Industrial Park

Addis Ababa, October 21, 2024 (FBC) – The Industrial Parks Development Corporation of Ethiopia (IPDC) and Anda Vehicle Manufacturing Company & Aniy Furniture PLC, a Chinese electric vehicles and modern office furniture manufacturer, have signed a memorandum of understanding for the latter to invest over 2.6 billion birr on 2 hectares of leased land at the Bole Lemi Industrial Park.

The agreement was signed today by the CEO of IPDC, Mr. Fisseha Yitagesu, and the Chief Executive Officer of Anda Vehicle Manufacturing Company and Aniy Furniture PLC, Mr. Wu Hangshu.

Upon commencement of its operations, Anda Vehicle Manufacturing Company and Aniy Furniture PLC is expected to supply its products to the local and foreign markets.

Chinese companies take the highest share of foreign companies engaged in various sectors in 13 of Ethiopia’s industrial parks and the Dire-Dawa Free Trade Zone, according to IPDC.