Wednesday, 15 June 2011
The Endowment Fund for the Rehabilitation of Tigray (EFFORT) is preparing to establish a factory for the production of PVC raw materials at a cost of two billion birr. The factory will be set up near Mesobo, Tigray Regional State, an area endowed with large limestone deposits.
Currently, about 40,000 metric tons of raw materials are imported for manufacturing PVC products in the water development and the construction sectors. The company aims to reduce the flight of foreign currency by supplying the demand for the raw material.
Sources say that the factory will use Chinese technology, though it has made no official announcement regarding its decisions. The formation of the company, supervised by Ezana Mining Development (another EFFORT company), is not yet complete.
This factory will become the fourteenth EFFORT company next to Mesfin Industrial Engineering, Mesobo Cement Factory, Sur Construction, Baba Dimensional Stone, Trans Ethiopia, Express Transit, Guna Trading, Addis Pharmaceuticals, Sheba Tannery, Hiwot Agriculture, Almeda Textile, Experience Ethiopia and Ezana Mining Development.
Source: The Reporter