The Ethiopian Council of Ministers has ratified the directive proposing to establish a Chemical Industry Corporation. The corporation is intended to oversee chemical industrial development under the administration of the Ministry of Industry.

The Ethiopian government has allocated more than 21.7 billion birr for the establishment of the corporation said Melaku Taye, Director of the Corporate Communications Directorate. An estimated 5.4 billion birr has already been used in the process of establishing the new corporation according to Melaku.

The Chemical Industry Corporation will be in charge of setting up factories to produce products from the rubber tree as well as fertilizers, cements and a range of chemical products for the domestic market and for export. The corporation will also be responsible for conducting designs and feasibility studies to set up new factories or to expand those that already exist.

It is to be remembered that it was earlier announced that the fertilizer complex will be under the control of the chemical corporation, according to Tadesse Haile, State Minister of Industry, speaking last April.

Appropriate studies have been conducted for the establishment of the new corporation and it is expected that its formation will be ratified by the government soon said Tadesse at the time.

Source: Walta Info