Welcome to Tigrai Online,      Daily News that matters


Sheikh Mohammed Al-Amoudi and an Italian firm to build the largest steel factory in Ethiopia

Tigrai Online, Oct. 02, 2012

Hot rolled sheet metal in a factory
Sheikh Mohammed Al-Amoudi is expected to partner an Italian firm in the construction of a $764 million steel factory

Ethiopian-Saudi investor, Sheikh Mohammed Al-Amoudi is this week expected to partner an Italian firm in the construction of a $764 million steel factory.

Officials said $593 million will be allocated to constructing the factory, with the remainder being set aside for power, water and land leasing.

Al-Amoudi's company, MIDROC Ethiopia will this week sign an agreement with Danieli SpA, Italian steel mill engineers to construct Toussa Steel Mill, located some 376 kilometres in the north of the country.

The new steel mill is expected to be the largest in Ethiopia, with an estimated annual production capacity of 1.3 million tonnes. The mill is expected to complement the Horn of Africa country's construction boom.

Toussa will manufacture reinforcement bars, billets and hollow sections amongst other steel products. It will also produce steel railway tracks in its second phase, according to the company.

The steel factory will be in addition to the 14 long and flat steel manufacturers already operating in Ethiopia with the combined production capacity of more than 1 million tonnes.

Al-Amoudi, named among The Africa Report's 50 most influential Africans this year, is believed to be worth more than $12 billion and has several investments both in and outside Ethiopia. His multi-billion dollar investments in Ethiopia are thought to employ around 20,000 people.

Danieli SpA is the largest steel plant manufacturer in Italy known for the production of rolling mills for steel melting and long products, and refining processors for steel production. The company has supplied 90 turnkey plants across the world since 1967 according to its website.

Source: The Africa Report

Sponsored Links

Sponsored Links

More Articles

WikiLeaks releases emails suggesting Ethiopian airlines flight 409 might have been sabotaged or shot down

Tragic month transforms Ethiopian Facebook: Will it last?

80 Eritrea-Bound Trucks With Contraband Intercepted By Sudanese Security

International Crisis Group’s Erroneous Assertions on Late Premier

MoFA’s bearings on the Nile is without error

World Bank Approves US$600 million New Funding for Ethiopia.

Ethiopian Prime Minister Hailemariam Desalegn : Interview Part one and two

EPRDF back on track, pro toxic campaigners back in the dark

The two Abebes' Partners in crime

Africa’s First, Ethiopian 1st B787 Dreamliner Touches down in Cairo

Sony Professional Solutions has been chosen by Tigrai State Mass Media

Africa’s 1st B777 Freighter Arrives in Addis Ababa

Ethiopia and Kenya get $348 million from the African Development Fund

Allana Potash doubles its Ethiopia land holdings

Observations in post Meles Ethiopia

What is your free advice to Mr. Hailemariam Desalegn

Meles political torch Passes to a young vibrant generations

EPRDF Council elects Ato Hailemariam Desalegn as its Chairman

Egypt’s Shallow Military Threat

Anna Gomez - Stop Meddling in the Internal Political affairs of Ethiopia

Wikileaks reports say Egypt was planning to bomb the Ethiopian Grand Renaissance Dam

Ethiopia says goodbye to Prime Minister Meles Zenawi in a spectacular state funeral

Ethiopian Graduates 197 Professionals

The Ethiopian Patriarch His Holiness Abune Paulos passes away at 76

Ethiopians in the DC Celebrate Send Off of the First Boeing 787 Dream Liner to Ethiopia

17 August 2012: Ethiopian to Receive 3rd Boeing 787 Ever Manufactured

Ethiopian First Dreamliner Clad in Ethiopian Livery

Ethiopian Airlines Targets August for 787 Dreamliner Delivery