Derba Cement, one of MIDROC Ethiopia’s subsidiaries, is planning to expand its cement plant at a cost of300 million USD. The expansion project is expected to take from 18 – 24 months.
Derba Cement’s CEO, Haile Assegide, explained Derba was preparing to build a second plant in Chancho City. Upon completion, the plant would have the capacity of producing 25 million quintals of cement in a year, he furthered.
The Development Bank of Ethiopia (DBE) is working to develop the mining sector by providing more than Birr 1.4 billion to more than 110 customers engaged in the mining sector.
Development Bank of Ethiopia (DBE) revealed that it had collected Birr 743.1 million in net profit during the first quarter of the current fiscal year achieving 87% of its plan. The bank’s total revenue reached Birr 2.03 billion during the same period.
Diageo PLC, producer of Meta Abo, Zemen Beer and Malta Guinness non-alcoholic beer brands, begins a 780 million Birr expansion project, according to Addis Fortune.
Expansion work Diageo carried out on a factory it owns in Ethiopia, Meta Abo Brewery, is inaugurated. The expansion project was carried out at an outlay of USD 119 million.
