2merkato

Holland Car plc, Ethiopia delivered 48 pre-ordered automobiles to its clients last week. The car assembly company has been in constant legal wrangling with customers for delivery delays.

The 48 new cars delivered by the company to its clients are powered by a Variable Valve Timing engine which controls the opening and closing time of the intake values as the engine works under different conditions enhancing the power performance of the vehicle as well as lowering its fuel consumption said Engineer Haileleul Tadesse, General Manager of the Assembly Plant.

Ethiopia can transform its economic structure and create jobs through light manufacturing according Justin Yifu Lin, Chief Economist and Senior Vice President for Development Economics with the World Bank.

Lin launched a Light Manufacturing study that included China, Tanzania, Zambia and Vietnam as well as Ethiopia in his final visit to the region before his term as Chief Economist expires on the 1st of June.

The study on light manufacturing can help guide the transformation of the industrial structure and enhance the creation of productive jobs in various sectors in Ethiopia including, apparel, agribusiness, leather and metal he noted.

Acazis Agro Industry plc (Flora EcoPower) is to produce peanut oil in Ethiopia. It is expected that the company will be the second largest producer of peanut oil following state owned Hamaressa Edible Oil Share Company.

The new mill established by Acazis near Harar will launch the first test runs over the next months and anticipates beginning larger scale operations in the third quarter of 2012 according to sources with the company.

A Sugar development project is in progress in Tigray Regional State, Ethiopia according to Abaye Tsehaye, Director General of the Ethiopian Sugar Corporation.

More than 40,000 hectares of land has been allocated for a sugarcane plantation, with 10,000 earmarked for the construction of a sugar factory with quarters for employees explained Abaye.

The factory is expected to create employment for 10,000 people as well as enhancing the irrigation development in the area he said.

Ethiopia has earned 172.5 million US dollars in revenue from the manufacturing sector in the last 8 months according to the Ministry of Industry.

The revenue was generated from the garment, leather and leather products, textile, chemical and pharmaceutical and agro processing sub sectors said Melaku Taye, Corporate Communication Director for the Ministry.

The money earned was 54.2 million US dollars more than the same period last year although it is just 60% of the target set by the ministry said Melaku.