Ethiopian Bank Approves 1.5bln birr Loan to Habesha Cement
The Development Bank of Ethiopia (DBE) approved last Tuesday a 1.52 billion birr loan to Habesha Cement.
The company had sought from the bank 70 percent of the fund it need for setting up a cement factory in the country.
The bank is currently drafting the loan agreement and it is expected that the parties will sign the deal next week.
The annual production capacity of Habesha’s first factory is projected to be 1.4 million tonnes of cement a year, according to Mesfin Abi, CEO of the company.
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