Amhara Region to Spearhead Multibillion Birr Investment Project




A series of mega industrial plants, whose investments is spearheaded by the Amhara Regional State, is to be launched tomorrow, with the laying of a foundation stone in the town of Dejen, 240Km north-west of Addis Abeba, sources disclosed to Fortune.

Abay Industrial Development S.C., a public-private company established with four billion Birr registered capital raised from close to 400 founding shareholders, is behind the seven mega projects to be erected in the Amhara Regional State. The first, a cement plant, will be constructed near the town of Dejen, at the mouth of the Great Abay Gorge, and an area rich in mineral resources used for cement production.

The following five days will see high level federal and regional authorities traversing between various towns in the state, witnessing the launching of such investment projects in Bahir Dar, the seat of the regional state, to be followed by events in Gonder, Debre Tabor, Woldia and Dessie. The town of Debre Brehan, 130Km north-east of Addis Abeba, where the company foresees the erection of a manufacturing plant for MDF, will see the conclusion of the series of these events.

Tesfaye Getachew, vice president of the Amhara Regional State, chairs the board of directors of the share company, Abay Industrial Development.



Published on Apr 20,2017 [ Vol 17 ,No 885]


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