Housing Development, a Turkish construction fit-out company, is building a new manufacturing plant in Ethiopia to tap the demand of the booming construction industry, the company’s owner said.
Oguz Atik told Anadolu Agency that the new plant, which is being built in Gelan town on the outskirt of the capital Addis Ababa would start production at the end of 2021.
The annual average growth rate of Ethiopia’s construction industry is 12 percent, according to official figures.
“There are many real estate and construction companies in Ethiopia who are engaged in all types of property development and construction is everywhere,” Atik said.
However, the industry had been importing finishing wood materials from different parts of the world and the annual import expenditure was around $600 million, he added.
“Moreover, in Ethiopia, the structural construction of buildings proceed fast. However, due to lack of finishing materials, it takes too much time to finish buildings,” Atik said, adding that the plant’s outputs would help builders to complete their projects much faster.
According to him, the company’s quality service provision had been attracting new clients in the capital Addis Ababa and regions.
“Recently, we have signed an agreement with a company in the capital to provide a finishing service to 18 story hotel,” he said.
“In northern Ethiopian city of Gondar, we are also commissioned to finish a 100-room hotel.”
Currently, the company has employed some 100 people and when the manufacturing plant goes operational, some 100 Ethiopians will get a job, according to Atik.
“The main company in Turkey has been providing fit-out services and materials to clients in Qatar, Saudi Arabia, and Europe and we also have pending contracts from South Africa and Uganda,” he noted.
Source: Anadolu Agency