Qatari investors plan new cement plant in Ethiopia
A Qatari business group plans to invest US$500 million in Ethiopia, according to reports. The group met with Ethiopia’s president to discuss their investment plans, which include a cement plant in Dire Dawa, a sugar factory and other industrial facilities. No specifics have been announced as to the capacity of the cement plant.
Ethiopia’s Ministry of Industry has released a draft Cement Industry Development Strategy with the aim of increasing cement consumption to 20 million t within 10 years from its current level of 6 million t. Greenfield and expansion projects are underway in the country, which earned almost US$10 million from cement exports in the last full budget year. Current capacity is at around 15.7 million t.