China's Chongqing Kunhuang International Industrial Group (CKIIG) has come to terms with the Ethiopian Investment Commission to develop the Geda Special Economic Zone.
The agreement was signed by Ethiopian Investment Commission Deputy Commissioner Zeleke Temeseng (Dr.) and Chongqing Kunhuang International Industrial Group shareholder, Xiao Feng Zhou, also a representative.
The Chinese company would carry out its investment engagements with a capital of 50 million dollars on 20 hectares of land approved by the Board of Investment at the Geda Special Economic Zone.
It is stated that the company produces materials needed for construction and invests in other sectors.
The Ethiopian Investment Commission indicated that the agreement would bring many benefits both to the local community and the nation at large.