China Civil Engineering Construction Corporation (CCECC) has signed a memorandum of understanding (MOU) with the Oromia Regional State of Ethiopia for the development of a new free trade zone, Lume free trade zone, within the Gada Special Economic Zone (Gada SEZ).
On Friday Prime Minister Abiy Ahmed led the inauguration of the Gada Special Economic Zone construction, overseeing the signing of the MOU. During his address, Abiy emphasized the need to replicate agricultural successes in the industrial sector, underscoring the importance of policy support and robust infrastructure for the zone’s future operations, according the information the Official of the Prime Minister shared on its social media pages.
Situated 65km east of Addis Ababa, this initiative aims to boost exports, establish a trade logistics center, and allure foreign investments, fostering industrial, trade, investment, and urban development. CCECC has been one of the active Chinese companies engaged in massive road, industry zones and railway contractions in Ethiopia and many African countries.
CCECC, formerly the Foreign Aid Bureau of the Ministry of Railways, was established in 1979 under the approval of the State Council of the People’s Republic of China and was incorporated into China Railway Construction Corporation (CRCC) in 2003 for strategic regrouping under the approval of the State-owned Assets Supervision and Administration Commission.
As one of the pioneering Chinese companies entering the international market, CCECC is now developed into a large-scale state-owned enterprise with Chinese National Super Grade Qualification for railway project engineering, and has been listed among the world’s top 225 International contractors for many years in a row.
CCECC has established resident offices or project management headquarters in 89 countries and regions by the end of 2016, spreading across Asia, Europe, Africa, America and Oceania with its business covering project contracting, civil engineering design & consultancy, industrial park construction, development and operation, real estate development and property management, investment, railway operation, industrial mining, import & export, hotel management and travel services