Raya Brewery S.C. officially inaugurated its factory in Maichew, a town 120Km away from Tigray Region’s capital Mekelle, after a long time of expectation to join the market. The construction was completed within one year.
The factory, which has the capacity of producing 700,000 hectolitres (about 180 million bottles) of beer annually was established by 58 founding shareholders, including Tsadkan Gebretinsae, former army chief of staff, and Ambachew Abreha, former head of Ethiopian Shipping Lines (ESL), back in April 2010. It has now about 2,441 shareholders.
The Ethiopian beer industry has been in recent years joined by international giants like Diageo, a premium drinks Business Company, which produces more than 65 million hectolitres from more than 100 sites in 30 countries. It bought Meta Abo Brewery S.C for 250 million dollars in 2013. Heineken is the other, which inaugurated a new factory in Addis Abeba very recently.
The construction of the factory and acquisition of machinery started after the shareholders raised 600 million Br from the sale of shares and obtained a grant of 910 million Br loan from the Commercial Bank of Ethiopia (CBE).
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