TIRET October 2012 Issue - MIDROC Ethiopia

MIDROC News
Derba-MIDROC Cement Factory Inaugurated
Derba MIDROC Cement Factory, the largest
in the country, with a construction cost of
USD351 million (USD 151 million is Owner’s
contribution and USD 200 million is loan)
sprawling on 123 ha. of land was inaugurated on
January 29, 2012. The total cost including, the road
construction and transformer installations, goes up to
USD 600 million. Daily capacity of the Factory is 8,000
tons of cement.
Present at the inaugural ceremony were the late Ethiopian
Prime Minister, H.E. Ato Meles Zenawi, ministers, senior
government officials, prominent personalities, invited
guests, Sheikh Mohammed H. Al-Amoudi and Ato Haile
Assegdie, Executive Director of Derba MIDROC Cement.
Addressing the ceremony, the late PM H.E. Ato Meles
Zenawi appreciated the construction of this huge
cement factory and said that it is a pride for all that
the construction of the first phase is completed and the
factory has projected future expansion undertakings.
10 TireT October 2012
Factory View of Derba MIDROC Cement
Sheikh Mohammed H. Al-Amoudi also expressed his
satisfaction and said that his dreams are coming true.
The construction of the project had employed 5,000
Ethiopians and 1,500 Chinese. The factory expects to
make as many as 20,000 people gainfully employed in
the production and distribution process.
Derba MIDROC Cement has joined the industry with
high hopes for the local economy. The Ministry of
Industry had projected an annual demand of eight
million tons for the fiscal year 2011/12, whereas the
supply was only 6.64 million tons. Part of the 1.36 million
tons gap was filled by Derba MIDROC Cement, which
had started operation in the second half of the year.
“Once we enter the market at full capacity,” said, Ato
Haile Assegdie, Executive Director of Derba MIDROC
Cement, “we are confident that all cement needs of
Ethiopia will be satisfied in the next 3-5 years at an
affordable price.”