Russia’s Agroinvest Group to engage in Ethiopia’s industrial parks

Addis Ababa, December 21, 2023 (FBC) – The Russian Investment Group, which consists of 17 huge manufacturing companies, has announced its decision to invest in Ethiopia’s industrial parks.

The Russian investment group, also known as AGROGROUPINVEST, has an investment capital of more than 10 billion rubles.

Industrial Parks Development Corporation CEO, Aklilu Tadesse, received the Director of the Investment Group and his advisor in his office today.

On the occasion, the CEO said that the decision made by the investment group to invest in Ethiopia is right and timely explaining about the existing investment opportunities, incentives, and enabling policies in Ethiopia.

He also expressed the commitment of the Ethiopian Industrial Parks Corporation to provide continuous support to make the investment a reality.

The Director of the investment group, Katkov Denis, for his part stated that the group engaged in the agro-processing sector has decided to invest in industrial parks and said that it is compiling pre-investment studies and information.

The two sides also discussed ways for manufacturing companies located in industrial parks can tap the huge garment and textile market in Russia.

AGROGROUPINVEST, a Russian investment group in Oryol region of the Russian Federation and owns 17 manufacturing industries built on 100,000 hectares of land, acquiring a wide range of agricultural products for industry and animal feed.