TIRET October 2012 Issue - MIDROC Ethiopia

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Message of Condolence The Investment Companies of Sheikh Mohammed H. Al-Amoudi, MIDROC Ethiopia and its Group and affiliate Companies, wish to express their deepest and heartfelt condolence due to the untimely loss of the Ethiopian Prime Minister, H.E Ato Meles Zenawi. We treasure his life long and steadfast determination and contributions for promoting investment, development and economic growth in the country. MIDROC Ethiopia and its Group and affiliate Companies reaffirm their readiness to actively continue and participate in the investment activities in Ethiopia in a sustainable manner, especially in the current GTP and the subsequent national spans of economic development. We will always cherish the legacy, H.E Ato Prime Minister Meles Zenawi, has left behind and our profound sympathy will stay with his family, government and people of Ethiopia, while taking solace in his charted out road map of development for the country.
MIDROC News Agreement Signed for Construction of Toussa Steel Factory Shiekh Mohammed H. Al Amoudi signing the agreement for Toussa Steel Factory project An EPC turnkey project contract agreement, involving USD 800 million for the construction of an integrated steel manufacturing plant, Toussa Steel Factory Plc., was signed on October 2, 2012 between Sheikh Mohammed H. Al-Amoudi, Chairman and Owner of MIDROC Ethiopia, and Mr. G. Bennedetti, President and CEO of Danieli Spa of Italy. Danieli SPA is one of the largest steel plant manufacturers in the world with an experience of over 100 years in the business. Present at the signing ceremony were H.E. Ato Demeke Mekonnen, Deputy Prime Minister of FDRE, H.E. Ato Ayalew Gobeze, President of the Amhara Regional State, Ministers, senior government officials and invited guests. Toussa Steel Factory Plc. is located at Galissa; 5 km. north of Kombolcha in the Amhara Regional State, 376 km away from Addis Ababa. The Factory will have a production capacity of 1,350,000 tons per year (“tpy”) of hot rolled long steel product and will be built to international standards. The use of state-of-the-art technology will enable the Factory to produce varied product mix and production capacity to be maximized. Toussa Steel Factory Plc. is designed to be environmentally friendly and incorporates state-of-the-art technology to mitigate harmful environmental pollutants in compliance with applicable Ethiopian and international environmental protections and emission limits associated with steel manufacturing and rolling. Sheikh Mohammed H. Al-Amoudi in his remark at the signing ceremony, disclosed his determination to engage in large scale heavy industries sighting the readiness of three other upcoming large projects including the Edible Oil Factory Project in Bahir Dar, the construction contract agreement of which will be signed with the contractor from Great Britain in the coming week. The construction contract agreement for a Genes and a Cable Project will also be signed shortly. He also reaffirmed his preparedness to invest and work for a sustainable development of Ethiopia and emphasized the importance of partnership of government with the private sector and the people. Ato Haile Asegidie, Executive Director of Derba MIDROC Cement Plc. addressing the gathering explained that the completion of Toussa Steel Factory Plc. will be a game changer in Ethiopian steel manufacturing industry as the erection and operation of Derba MIDROC Cement Plc. has been for the cement industry. According to him, the establishment of the Factory is extremely important to further advance Ethiopia’s economic performance by providing the critical inputs: steel bars, sections and billets, for the enhancement of the construction industry, metal engineering and other related sectors. The factory during construction will give job opportunities for over 2,000 people and when completed provides 600 jobs for young people around the area. One hundred engineers will be employed in various managerial activities in the Factory. Toussa Steel Factory plans to undertake an expansion of the Plant in the future by constructing a steel melting plant, continuous casting machine vacuum degasser and a rolling mill with auxiliary facilities capable of producing 300,000 tpy of rails and medium sections. TireT October 2012 7
Page 1: IN FOCUS Awassa Chip Wood Factory:
Page 5: The Ethiopian year that just ended
Page 11 and 12: Photo: Fortune Newspaper MIDROC New
Page 13: MIDROC News The late H.E. Ato Meles
Page 17: The 13 th Consultative Group Meetin
Page 21: 15 th Annual General Managers’ Co
Page 25: Bebeka Coffee Estate S.C. Engages i
Page 29: NOC Participates at 2012 African Do
Page 33 and 34: National Motors Corporation Introdu
Page 35 and 36: MIDROC News Horizon Addis Tyre Surp
Page 37 and 38: now that the technological part of
Page 39: A view of the forestry development
Page 42 and 43: IncIdentally ICASA 2011 By: Berhanu
Page 44 and 45: Writer’s Column Nani Building: Th
Page 47: Nani also has one elevator and four
Page 50 and 51: HEALTH Coffee and health By: Yilma
Page 53 and 54: Global Status of HIV/AIDS Nearly 50
Page 55: Happiness is yours in the here and
Page 59:
Exploratory drilling Two areas, Daw
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TIRET October 2012 Issue - MIDROC Ethiopia

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