A steel manufacturing industry is set to be constructed in Mekele city through a collaboration between Ethiopian and Chinese investors, with an estimated cost of Birr 6 billion.

The project has garnered attention from other private and associational investors, who see it as a positive example to be followed for mutual benefit and national development. The anticipated impact of the project includes the creation of job opportunities for around 6,000 people.

The Ethiopian investor, Yared Tesfaye, reportedly covers 75 percent of the steel production, while the remaining 25 percent is supported by Li Yoon, a Chinese investor. The project is scheduled to commence operations in 10 months.

Source: Fana BC