M a r k e t N e w s

Ethiopia sets up $10 million ceramic factory to stem imports

Posted on : Friday, 26th August 2016

 The Himrawi Investment and Trading Private Limited Company has invested $10million in construction of a ceramic factory as the country looks to local industries to tame biting shortage.

According to the company general manager Frealem Shibabaw the company has conducted studies and ascertained mineral wealth at Sekota area in Amharic State, Northern Ethiopia.
Ethiopia exports eight million tiles from China annually. The factory would therefore enable the nation to save hard currency that would have been spent for ceramics importation.
The factory has a capacity to produce two million tons of tiles annually that constitute only 24 per cent of local demand.
The factory will also produce fire bricks useful and input for glass and cement factories. Indicating that such material is not produced in other African countries, Frealem said that the factory will be the first ever fire brick producer in Ethiopia. Quartz paint is another output expected from the upcoming factory. It will produce from factories residue.
According to Frealem, the factories will create over 300 jobs and pay 1.6 million Birr in the form of tax.
Laying the cornerstone, Culture and Tourism Minister Eng. Aysha Mohammed said that the people and the government of Ethiopia have not been utilizing the abundant resources but now efforts are under way to change the resource into economic benefit.
The Minister also called on governmental bodies at all levels and the community to provide support to the investor to make the project a reality.
Waghimra Zone Administrator Yilma Worku said that the project would contribute in creating jobs and promoting mineral wealth for investors.
He said the administration would continue providing support for the realization of the project.

Source : africabusinesscommunities.com
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