Ethiopia's Raya Brewery announced it has raised 500 million Ethiopian birr to fund the construction of a new brewing plant.

Located on the outskirts of Maichew, 670km north of the Capital, Addis Ababa in the Tigray regional state, construction of the plant which will have a capacity to produce 600,000 hectoliters of beer annually is scheduled to be completed within a year time.

Lieutenant General Tsadkan Gebretensae, Raya Brewery Board Chairman and former Chief of Staff of the Ethiopian Defense Force, told Capital that the company has already ordered machinery from two European companies needed for the production plant.

Six months ago, Raya signed a contract with Czech and German companies for the commissioning and installation of a brewing machine and bottling plant.

BGI Ethiopia - the country’s biggest brewery, has acquired a 42% stake in Raya Brewery.

Source: Capital