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UAE Company to Setup Aluminum Factory in Ethiopia

al ghurairThe United Arab Emirates (UAE) based, Al Ghurair Group, is going to set up an aluminum factory in joint venture with Tracon Trading Plc at an outlay of U.S. $ 50 Million here in Ethiopia.

Owner of the Group, Majid Saif Al Ghurair, after meeting with President Mulatu Teshome he said preparations have been finalized and it is going to go operational in the near future.

He further explained his company has been supplying aluminum in Ethiopia jointly with Tracon.

Out of the total 60,000 hectares of land that is needed for the project, the Ethiopian government is going to provide Al Ghurair with 25,000 hectares for the time being, the owner added.

Tracon Trading’s Deputy Manager, Elias Nur, on his part noted the newly to be built factory is going to enhance satisfying the local demand and export to other East African countries. According to him, the factory is going to commence production within a year time.

Source: Ethiopian News Agency