Thursday, October 4, 2012

MIDROC to construct largest steel factory with $800 million


Ethiopian MIDROC owner Sheikh Mohammed Hussein Ali Al-Amoudi and Italian steel mill engineering giant, Danieli Company president Benedetti signed an agreement on Tuesday at Sheraton Addis for the construction of the biggest steel factory in Ethiopia at a cost of $800 million.
 The steel mill plant will be installed in a rural town near Kombolcha in Amhara Regional State, 376km north of Addis Ababa.



The factory is expected to become the biggest steel mill in the country with the capacity of producing varied steel and iron products including those amenable for rail lines.
It will have production capacity of 1.35 million tones which at its completion will increase Ethiopia’s steel supply by 28 percent.

It is believed that it would have vital role in solving the problems related to steel and thereby achieve the nation’s development goal.
Danieli Company is Italy's biggest steel plant manufacturer reputed for building more than 90 turnkey plants across the world since 1967.

The company will be involved in the design and supply of materials and installation of the Tossa Steel Mill.
Source: ERTA

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