Addis Ababa April 20/2017 The Habesha Cement Factory, with a capacity to produce 1.4 million tons of cement per annum, was inaugurated on Wednesday.
The cement factory, built around Holeta area with an outlay of 3.2 billion Birr, is owned by Ethiopian shareholders and two South African companies.
During the inauguration, Prime Minister Hailemariam Desalegn said cement production has increased by tenfold over the past decade due to the attention given to sector.
Cement production which was only 1.6 million tons per year at the beginning of the first Growth and Transformation Plan, has grown to 15 million tons at the end of plan period, he noted.
Because of this improvement, the country is exporting cement, apart from meeting local demands, Hailemariam added.
The East African nation is working to raise the annual production to 27 million tons at the end of second Growth and Transformation Plan period, the Premier said.
The factory, owned by 16,500 Ethiopians and two South African companies with fifty shares, can be exemplary for Ethiopians who wish to invest in the industry sector, said Ahmed Abitow, Minister of Industry.
It displays the fact that Ethiopians can take the leading role in the industrialization process, he added.