The Ministry of Industry said that a study meant to build a park clustering leather industries is finalized.
Industry State Minister, Dr. Mebratu Meles, said that the park, which is due be materialized at Modjo area of Oromia region in the second GTP period, has now about to secure building financers.
According to him, adopting the experience of countries and lack of finance had pushed back a deadline of realizing the park.
However, he said that looking for financing sources has got an end as the study got finalized.
Leather Industry Institute’s leather and footwear director, Admasu Yifru, said that local investors are most appreciated and motivated to join the park.
He said that attracting international companies who have known brands for valued added products is also sound beyond pushing locals to invest in the park. According to him, the government has had a consultation with investors from many nations.
Currently, the country has 22 footwear and 3 glove factories, which have been an issue for environmental pollutions as they are located too sparsely making the waste treatment efforts difficult.
If these factories found in one park, they would have modern working methods and would significantly create strong market linkage amongst each other and ease pollution.
Though Modjo area appears to be niche for leather industry, industries have posed the area for disease and even they do lack modern structure.