ADDIS ABABA – Paron Trading, a local private company, has landed a lease agreement to invest in agro-processing in Bahir Dar Industrial Park.
The company signed a land lease agreement with the Industrial Parks Development Corporation (IPDC) on Wednesday.
As per the agreement, Patron Trading Plc secures two hectares of land in Bahir Dar Investment Park with a total investment of 500 million Birr.
Paron Trading Plc will engage in agro-processing and supply its inputs for the food and beverage industries.
Authorities expect the production company with a plan to create 1,000 jobs upon going operational, to contribute to their import substitution push.
Aklilu Tadesse, the newly appointed CEO of the IPDC, pledged to provide all the necessary support to Patron’s undertaking in the Bahir Dar Industrial park.
CEO and owner of Paron Trading, Abebe Asren appreciated IPDC’s support for local businesses and companies to invest in industrial parks.
Authorities have made a range of fiscal and non-financial incentives available to companies investing and working in industrial parks.
Wednesday’s agreement shows IPDC’s commitment to encouraging local investors and companies to join in industrial parks, the CEO added.
Bahir Dar IP, which started operations in 2020, is one of the IPDC’s 13 industrial parks open for domestic and foreign investors.
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