2merkato

Ethiopia reduced duties on imported materials for the textile and garment sector according to Sufian Ahmed, Minister for Finance and Economic Development.

The decision was made a meeting arranged between Sufian, and Mekonnen Manyazewal, Minister for Industry as well as senior representatives of the Ethiopian Revenues and Customs Authority, the Textile Development Institute and the Ethiopian Textile and Garment Association

Duties on imported textiles were reduced to 20 percent from 35 percent for garment manufacturers while no duties will be suspended for all imported spare parts required by textile and garment manufacturers.

Messebo Cement Factory is to introduce a new product to supply Low-Heat, High-Sulfate Resistant Cement intended for large projects.     

The cement is particular intended for large project such as the construction of dams because it has unique crack-resistant characteristics important for the construction of infrastructural projects such as dams.

This type of cement used to be imported at significant foreign currency expenditure according to sources.

The Ethiopian Ministry of Industry has made 10 plots of land available for eight domestic and international investors in the manufacturing sector who have requested land to build industrial zones.

These plots are a part of the 13 reclaimed by the Addis Ababa City Administration for failing to properly develop them.
The plots each cover 2, 800 meter squares and are found in the Akaki Kality and Mekanisa Lebu districts.

The companies granted the land are involved in the manufacture of garments, shoes, metal and agro processing sectors. 

The Ethiopian Agro Industry Company, K & S Plc, signed a contract with the German owned Agro Industry Private Limited Company, Acazis Agro Industry, to launch an oil company for 8 million US dollars.

The raw material that is needed for the production of oil is intended to be produced on 6,000 hectares of land in the East and West Hararghe zones, Oromia region. The new partnership expects to produce 25,000 tons of ground nuts every year on the 6,000 hectares of ground to serve as raw material for the factory according to Francois Achour General Manager of Acazis Agro Industry plc.

The ground nuts can also be used by local industries. But it was also mentioned that there is a long term plan to export to China and India. But its  initial focus is on local market of Ethiopia and the exports are a long term plan when the production capacity grows.

The Ethiopian Privatization and Public Enterprises Supervising Agency of Ethiopia is to set up a new enterprise on palm oil refinery at projected cost of 401.1 million Birr. The refinery is to be built with the expectation that once completed the enterprise will have an annual production of 300,000 tons, as it stated by the officials of the Agency.

The production will be equal with the annual import order of the state owned enterprise, Merchandise and Wholesale Trade Enterprise which covers 80% of the national demand currently.

The agency has invited interested parties both domestic and international, to bid in a public tender, for the construction of a crude edible oil refinery plant on the two locations allocated by the government.