Ethiopian Airlines have signed a Joint Venture agreement with South African firm, Aerosud to create an aerospace manufacturing company.
The agreement will lead to the establishment of manufacturing facilities close to Bole International Airport, just outside the Ethiopian capital, Addis Ababa, where parts for Boeing, Airbus and other aerospace companies will be manufactured.
While speaking at the signing ceremony,CEO of Ethiopian Airlines,Tewolde GebreMariam said the deal will boost the country’s development prospects beyond the aerospace industry and will create jobs for young people, as the country aims to deal with rapid population growth.
“Pursuant to our government’s industrialization policy embedded in the five years Growth and Transformation Plan (GTPII), we have reached into an agreement with Aerosud Group to establish and develop labour-intensive Aerospace Manufacturing Industry,” he said.
“The manufacturing facilities, that will be set up in due course, are expected to be located in the vicinity of Bole International airport for good reasons of economy of scale and ease of import/export transportations. At last, I would like to thank all who worked hard towards the conclusion of this agreement.
“It is my sincere belief that, the establishment of these facilities will surely create significant job opportunities for the young, educated task force and be another face of the industrial park development task that is being carried out in the Country,” he added.
Ethiopian Airlines is one of Africa’s most successful airlines, experiencing significant growth over the past few years as it continues to expand on its 93 international flight paths across five continents.