Saudi-Ethiopian billionaire, Mohammed Al Amoudi, the largest foreign investor in Ethiopia, is planning to build two more cement plants in Ethiopia, Bloomberg reported.

The two new factories planned will add to the US$351 million Derba Cement opened in December 2011, al-Amoudi said in an interview today in, Addis Ababa.

Ethiopian-born Al-Amoudi ranks as the world’s 134th richest person, with a net worth estimated at $8.7 billion, according to the Bloomberg Billionaires Index. He is the second-richest person in Saudi Arabia, after Prince Alwaleed bin Talal.

Source: Bloomberg