Ethiopia’s Deputy Prime Minister, Ato Demeke Mekonnen, said the government was willing to hear any policy insights and include them in the plans and programs of the country by taking into account the objective reality. According to the Deputy Prime Minister, the government is working hard to accelerate the country’s economic change and renaissance by obtaining key macroeconomic inputs.
Derba MIDROC Cement and Sinoma International Engineering Group agreed to work together on the Derba Cement Factory expansion project. The agreement is expected to increase the daily production capacity of the factory to 150,000 quintals by enabling the factory to produce 80,000 additional quintals of cement to what it is currently producing.
Saudi-Ethiopian billionaire, Mohammed Al Amoudi, the largest foreign investor in Ethiopia, is planning to build two more cement plants in Ethiopia, Bloomberg reported.
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.
