MIDROC Ethiopia signed 600 million US dollar turnkey project Italian steel mill contractors Daniele SpA, for the construction of
its plant in the Amhara regional State
Toussa Steel mill is expected to be the largest steel mill in Ethiopia with an estimated annual production capacity of 1.3 million tons.
Toussa was licensed with the Ethiopian Investment Agency in July of last year and plans on producing reinforcement bars, billets and hollow sections amongst other steel products. The factory will go on to produce steel railway tracks in its second phase.
It is to be remembered that nine international companies from China Germany, France, South Korea and Italy had shown initial interest in the tender put out by Toussa last December. The management for the steel mill, led by Chief Executive Haile Assegdie, announced a shortlist of two Chinese companies and Danieli SpA in June.The Toussa Steel project office led by Shimeles Eshete (Eng.) evaluated the technical and financial proposal of the companies before selecting Danieli SpA.
Toussa Steel being constructed in the Amhara Regional State is part of MIDROC Ethiopia, largely owned by Ethiopian born Saudi billionaire Mohammed Hussein Ali Al-Amoudi. The steel factory will be in addition to the 14 long and flat steel manufacturers already operating in Ethiopia with the combined production capacity of more than 1 million tons.
Source: Ethiopian Herald
