Addis Ababa – An agreement was signed today between the Industrial Parks Development Corporation (IPDC) and the National Investment Group for the establishment of a facility to manufacture airplane spare parts at Kilinto Industrial Park, Ethiopia. The partnership will position the National Investment Group on 14 hectares of land within the park to commence their operations.

According to Ethiopian News Agency, the National Investment Group, an Ethiopian-based company, will invest 110 million USD to develop what is projected to be the premier aerospace manufacturing hub in Africa. The company plans to produce 14 different types of airplane spare parts. This venture is expected to generate employment opportunities for 1,000 local residents.

The signing ceremony was conducted by Aklilu Tadesse, CEO of the Industrial Parks Development Corporation, and Captain Abera Lemi, founder and CEO of the National Investment Group. Aklilu remarked on the occasion that the engagement of the National Investment Group in the aerospace sector lays a significant foundation for the advancement of Ethiopia’s aerospace industry. He noted that the IPDC is focused on drawing capable and competitive local investors to its industrial parks and free trade zones by simplifying operational processes.

Captain Abera expressed that the agreement marks a substantial opportunity to utilize local skilled labor and help reduce brain drain. He also mentioned that the National Investment Group would collaborate with various global aircraft and parts manufacturers to produce and assemble aircraft components in Ethiopia for the international market.