Jotun Ethiopia, the Norwegian paint manufacturing company, has signed a contract agreement with the Industrial Parks Development Corporation (IPDC) to implement an expansion project in the Bole Lemi Special Economic Zone.
The agreement was signed by Fitsum Ketema, Deputy Chief Executive Officer for Operations and Park Administration at the Industrial Parks Development Corporation, and Mohammed Sharib, General Manager of Jotun Ethiopia.
Speaking during the signing ceremony, Fitsum Ketema said that, in line with the Corporation’s five-year strategic plan, it is undertaking various initiatives to enable investors operating in the special economic zones and industrial parks under its administration to expand their capital and expertise. He noted that today’s agreement is one example of these ongoing efforts.
He further stated that Jotun Ethiopia has been making a significant contribution to the Ethiopian market by supplying high-quality paint products. He added that the expansion project at Bole Lemi will not only increase the domestic supply of paint products but will also enable the company to export its products to various African markets.
On his part, Mohammed Sharib, General Manager of Jotun Ethiopia, expressed his appreciation for the Corporation’s strong support and continuous follow-up in ensuring the success of the company’s operations. He noted that the expansion project will help the company meet domestic demand while also expanding its reach into African markets and strengthening its export market presence.
Under the terms of the agreement with IPDC, Jotun Ethiopia will receive 6.4 hectares of land within the Bole Lemi Special Economic Zone for the implementation of the expansion project.
