Turkish Company to Build Factory in Ethiopia

 

si22Kumtek Industrial PLC, a Turkish company, announced it is going to build a factory in Ethiopia to manufacture household goods and electronics items.

According to the Ethiopian Source Kumtek plans to sell its products to Ethiopia’s neighboring countries as well as Europe and the United States of America.

On Friday, President Mulatu Teshome held talks with s Board Member of Kumtek, Osman Koseolu, and the General Manager, Akturk.

Mulatu stated Kumtek is a development partner to Ethiopia while the nation is determined to change its citizens’ lives.

The President further noted the Turkish company will play a huge role in helping the country in attaining it’s development goals. He also promised assistance to the company in accordance to the investment law and added the deal will enable his country save foreign currency.

Koseolu on his part said Ethiopia’s huge consumption has lured its company to invest in Ethiopia. He added the move by his company creates a good choice to export products as the nation is the center of Africa.

The factory is expected to be finished in eight months. When commencing production it will have a capacity of producing 1.5 Million Birr worth goods within a single year.