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Al Amoudi pays $19.5 million for cement firm in Ethiopia

Postby zegabi » 12 Mar 2007, 00:59

Saudi tycoon sets up $19.5 m cement firm in Ethiopia

Monday 12 March 2007 00:15.

March 11, 2007 (ADDIS ABABA) — Ethiopian-born Saudi magnate Sheikh Mohammad al-Amudi paid on Thursday 8 March close to 19.5m dollars on behalf of Derba-MIDROC (Muhammad Investment Development Research Organization Company) Cement Factory, a subsidiary company of MIDROC-Ethiopia, which has hired China National Building materials (CNBM) to build the largest cement factory in Ethiopia.

Established with a capital of 2.4bn birr, Derba-MIDRIOC is the largest investment in the pipeline. Eighty per cent of the company is owned by Sheikh al-Amudi while the remaining share goes to MIDROC-Ethiopia, the state-run ENA reported.

The company was granted over 123 hectares of plot to construct a cement plant with a production capacity of 7,000 tonnes a day, an amount more than twice the size of what the state-owned Mugher Cement Factory is producing now.

The Chinese company was awarded, in January 2007, a turn-key project to build the factory near Chancho town, 70 km west of Addis Ababa in the Oromia Regional State.

The total investment for the factory is projected to be 310m US dollars.


Postby Dan » 12 Mar 2007, 01:17

Most major industries are controlled by either Woyanne officials or Al Amoudi. They are mega monopolies with whom no one is allowed to compete.

Postby Finot » 12 Mar 2007, 02:13

Last edited by Finot on 18 Apr 2007, 10:10, edited 1 time in total.

Postby Dawitabebe » 12 Mar 2007, 05:09

Why dont you organize yourself as a corporation and come invest in Ethiopia? Instead of criticizing the ones that are. Move back and fight poverty, dont give your hodam comments while sitting in your D.C. apartment with full stomach.

Re: Al Amoudi pays $19.5 million for cement firm in Ethiopia

Postby Dawitabebe » 12 Mar 2007, 05:15


ON top of that all mega bussinesses are not owned by Woyane or Al-amoudi or Tigre's, there are 15 companies who are currently investing in cement. To mention some of them
- East Africa Bussineses PLC (Owned by Amhara)
- Kangaroo Family (Owned by Ghurages)
- Sunshine Construction (Owned by Amhara)
- Yencomad (Owned by Amhara)
- Ghion Industrials PLC (Owned by Amhara)
And four of the upcoming factories are from foreign investors.
What do you say to that DAN?

Postby ye banda merze » 14 Mar 2007, 11:46

Like I have stated before, there are sell-outs and outsiders who can not stomach any positive news coming out of Ethiopia. I can live with the outsiders hate for Ethiopia. I know where they are coming from. It is the so called Ethiopian opposition groups whom I can not forgive for their treacherous acts. These people are sworn never to stop until they turn our beloved nation into Darfur, Congo, Somalia, Angola,Liberia, Iraq and you name it.

We Ethiopians should not permit this to happen. From the comfort of wherever they are and with the financing they are receiving from the enemies of Ethiopia, they are bent on creating choas in Ethiopia.

In due time, Ethiopian will punish Dictator Meles for all the wrongs he has done in Ethiopia. From his partnership with Dictator Isayas to the unauthorized partition of Ethiopia, he will one day has to answer to the Ethiopian people.

Meanwhile, recklessly indulging in hate politics which could jeopardise the very existance of our nation is not the answer. Politics of piting the Amhara against the Oromo or Tegrai against Amhara could only be the works of our enemies within and outside our nation.

Let us work together in building our economy , strengthening our military and discrediting the enemies of Ethiopia.

Postby jart » 14 Mar 2007, 13:53

yebanda merz

well said !

Postby Dawitabebe » 15 Mar 2007, 08:05

thanks yebanda merz, am with you, Ethiopia comes first, our beloved people come first!!

Postby Finot » 25 May 2007, 00:14

zegabi why not try to become rich in your own way and benefit yourself instead of b*tching on alamudi who is benefiting himself and his people?

wey habtam hun wey demo arif deha hun.

legal fundu sint derese gin? nuro bezede

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