MIDROC Gold Plc disclosed it is going to build a second gold extraction plant at Benshangul Gumuz State with a total cost of U.S. $ 250 Million.

MIDROC made exploration works at Gilay locality in the State for a decade. According to the Gold Project Director, Abiy Setargachew, the exploration task took quarter of a Billion Birr and it created job opportunities for 250 people.

Abiy also noted exploration was carried out on 4,000 Square Kilometers and it has proved there is a huge deposit of gold underneath the locality.

He furthered the deposit could last for some 10 years.

The plan is to divert five to six Megawatt electric power the newly to be build plant requires from the Gilgel Beles Power Generating Dam.

Benshangul Gumuz’s Chief Admininstrator, Ahmed Nasser, noted the plant will have significant economic benefits for the region and the country in general.

The Chief Administrator added the people and administration of the State will provide all the necessary support to the project and other similar investments.

The newly to be built gold extraction plant is the second of its kind for MIDROC; it already has one in Shakisso, Oromiya State.

Source: Ethiopian News Agency