NAIROBI, Aug 18 (Reuters) – Ethiopian Airlines will birth manufacturing airplane parts in a venture with Boeing (BA.N) at an initial rate of $15 million, the authorities’s investment company said on Friday.
The verbalize-owned provider, which is the glorious in Africa, has already signed the deal that also entails the local verbalize Industrial Parks Style Company, the Ethiopian Funding Price said on X, beforehand diagnosed as Twitter.
The venture will make “aerospace parts, along side airplane thermo-acoustic insulation blankets, electrical wire harnesses, and other parts,” the cost said.
“The investment project is anticipated to assemble employment alternatives for bigger than 300 Ethiopians,” it said.
The associated rate did now no longer dispute when production will begin. There used to be no instantaneous comment from Boeing.
Diversified African carriers esteem Kenya Airways (KQNA.NR) have said that a lack of parts, precipitated by the Ukraine war crisis which gash supply of Russian titanium that is a critical component of global aviation, has ended in flight disruptions.
It used to be now no longer straight sure if Ethiopian Airlines has also suffered from identical lack of parts.
The airline, which has a shortly of 140 airplane, said in June that its earnings rose by a fifth to $6.1 bln in its latest financial year.
Reporting by George Obulutsa; Modifying by Duncan Miriri and Angus MacSwan
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