Ethiopia: Derba Plans to Add Two New Cement Factories
Saudi-Ethiopian billionaire, Mohammed Al Amoudi, the largest foreign investor in Ethiopia, is planning to build two more cement plants in Ethiopia, Bloomberg reported.
Ethiopia: Derba to Expand With 300 Million USD
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.
Ethiopia: Development Bank Allocates Birr 1.4 Billion for the Mining Sector
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.
Ethiopia: Development Bank Collects Birr 743 Million in Net Profit
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.
Ethiopia: Diageo Beer Company Launches an Expansion Project
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.
