The Oromia regional administration has unveiled a new development initiative anchored in investments in Shaggar City, Bishoftu, and Adama and the introduction of special economic zones (SEZs) in the region.
Over the course of this week, the administration led by President Shimelis Abdisa and the regional communications bureau have issued a number of articles and documents outlining their vision for Oromia under an integrated development plan.
This includes a master plan encompassing three of the region’s most populous towns (Shaggar, Bishoftu, and Adama) and establishing the Gadaa Economic Zone near Bishoftu.
The master plan identifies several economic corridor potentials for each of the towns along the lines of industry, trade, finance, administration, service, residential, tourism, SEZs, and green development.
From The Reporter Magazine
The plan aims to consolidate land sprawl and officials envision the establishment of an endowment fund to mobilize resources, according to the regional president.
For Shaggar, the plans include dividing its various boroughs up based on economic activity. Koye Fiche, for example, is earmarked as a trade corridor while Gelan is to be dedicated to industry.
The master plan also includes museums, convention centers, railway lines, large-scale cargo and passenger transport centers, industrial parks, and manufacturing zones.
From The Reporter Magazine
Some of the projects are already underway, according to Shimelis, who said the master plan takes into consideration the new USD 10 billion airport being erected by the Ethiopian Airlines Group near Bishfotu.
Construction on the airport, slated to replace Addis Ababa’s Bole International as Ethiopian Airlines’ operational hub, has yet to begin.
In August, Prime Minister Abiy Ahmed (PhD) and the then African Development Bank (AfDB) president Akinwumi Adesina signed a formal financing agreement that put AfDB in charge of efforts to raise close to USD eight billion in financing to back the megaproject.
The Group is expected to provide 20 percent of the expected USD 10 billion cost, while officials are hoping lenders will cover the remaining 80 percent.
That month, a report from the Ministry of Finance estimated the cost of resettling the residents of Abusera, the site where the airport is set to be erected, at upwards of USD 350 million.
The new master plan ultimately aims to turn Shaggar, Bishoftu and Adama as center-drivers of economic development and social progress, according to Shimeles.