2merkato

Holland Car plc, first automobile assembler in Ethiopia, has reached a Joint venture agreement with a transport company based in the Democratic Republic Congo, TRC-City to assemble Ahadu Bus and Abay Executive.

Holland Car owns 30% of the Joint Venture of the new assembly plant to be constructed in Kinshasa with the other 70% shared equally between the founding partners of TRC said Engineer Tadesse Tessema General Manager of the company.

Holland expects to show case the first Ahadu Bus assembled in the DRC in the coming four months according to sources.

Ethiopia earned 193.5 million US dollars from the export of manufactured products in the last nine months according to the Ministry of Industry.

The revenue earned exceeded the sum earned in the same period last year by 55.9 million US dollars or 40.7%.

The revenue was earned from the export of leather and leather products, agro-processing, chemicals, pharmaceuticals, textile and garment said Mekonnen Manazewal, State Minister of Industry in a presentation of the ministry’s nine month performance report to the House of Peoples’ Representatives.

Representatives from Ethiopia’s metal industry discussed the challenges facing the sector at meeting held last week.

Challenges include price increases, power cuts, taxes, the supply of scrap metal, capital shortages and the monopoly of the Ethiopian Shipping and Logistic Enterprise had the Ethiopian Association of Basic Metals and Engineering Industries to call for a public-private dialogue forum to support the sector.

The competitive advantage of domestic industries is adversely affected by the 5% import duty imposed on scrap metal exports while the finished product is imported duty free according to participants at the meeting suggesting the lift of import duty or develop a duty drawback scheme for domestic industry.

Sugar cane plantations are under development in Ethiopia on 6000 hectares of land in Southern Omo. The plantations are intended to serve the six Omo Kuraz Sugar factories.

The plantations are part of plans to cover 15 hectares ever year for the coming five years said Tilahun Deneke, Head of the Omo Kuraz Sugar Development Project Office.

Ethiopia has allocated 225 million US dollars for the development of each factory to be constructed by the Metal and Engineering Corp. The assessment and design of the Omo Kuraz Sugar projects is currently underway under the supervision of the Southern Ethiopia Design and Supervision Enterprise and the Ethiopian Waterworks Design and Supervision Enterprise.

Premium Print plc is to build a factory with the potential to produce 40,000 toner cartridges annually in Ethiopia.

The company, in partnership with EC Solutions, A British company, plans to substitute the import of toner cartridges into the country as well as to export to the regional market.

Premium Print launched the assembly of toner cartridges three months ago with a monthly production rate of 200 cartridges at a workshop it is renting until it acquires land to build its factory.