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IPDC has made the necessary arrangements for local manufacturing companies to enter industrial parks

IPDC has made the necessary arrangements for local manufacturing companies to enter industrial parks and start production.
This was stated by the Deputy Chief Executive Officer of the Industrial Parks Development Corporation, Shiferaw Solomon, when he signed an agreement with a new manufacturing company that will enter in Dire Dawa Industrial Park. 
Industrial Parks Development Corporation and Gulf Ingot FZC manufacturing company has signed an agreement at Dire Dawa Industrial Park.
Speaking at the signing ceremony, Deputy Chief Executive Officer of Industrial Parks Development Corporation Mr. Shiferaw Solomon said that the flow of investment, which has been stagnant due to various national and international reasons, is returning to where it was. He added that his corporation has made all the necessary arrangements for local manufacturing companies to enter industrial parks and start production.
Finally, the deputy pointed that the company that has signed an agreement to start production at Dire Dawa Industrial Park should make a great contribution of import substitution and saving foreign exchange.  He assured that the necessary support will be provided without fail through their corporation.
The business development manager of Gulf Ingot FZC Company, Iosias Elias, who signed the agreement confirmed that they are happy with the opportunity that his company got to produce in the industrial park, and that they will try to start production to export their products to the local market as well as to Kenya and Tanzania. 
Gulf Ingot FZC, a company based in the United Arab Emirates, signed a contract with the corporation to produce PET preforms, a raw material used in the production of plastic packaging for various drinks and water packaging. 
The company will invest 5.26 million US dollars by renting an 11,000 m2 production shed in Dire Dawa Industrial Park, and in addition to creating permanent employment opportunities for more than 139 citizens, it will save foreign currency by producing proxy products. exporting more than 80 percent of its products to neighboring countries and increase export it was stated that the company will focus on earning high foreign currency.