MIDROC Group to Expand Operations

MIDROC Technology Group, the giant investment group that consists of 21 companies under the ownership of Sheik Mohammed Hussein Ali Al-Amoudi, announced their pursuit of expansion projects that are worth ETB7.7 billion on May 7, 2015 at Sheraton Addis Hotel.

The expansion projects will be implemented in MIDROC Gold and Elfora Agro Industry PLC and are expected to be complete within five years. The projects will take place in three regional states, including Benshalgul Gumuz, Amhara Regional State and Oromia Regional State. The plan is to expand their enterprises in gold, poultry, forge and dairy and meat production.

The gold exploration project will take place in three places at Bullen Woreda, Metkel Zone and Benshan Gumuz with an investment of ETB4.2 billion. "We finalize the feasibility study for the gold mining at Mettekel and we are on the final stage to launch the exploration soon,’’ said Arega Yirdaw (PhD), Chief Executive Officer of MIDROC.

Bahre Dolbear Minerals Industry Advisor, a UK-based company, conducted the feasibility study over the past 10 years, at a cost of ETB310 million. For the poultry farm, Elfora will invest ETB870 million in Cheffa, Amhara Regional state, and Oromia Special Zone. The other part of expansion will be held in Mekki and Hawassa towns, and in Oromia Regional State with an investment of ETB1.6 billion for forge production a special food which is usedfor animals. Milk and meat will be produced in Oromia Regional state with an investment of ETB1.1 billion.

The projects will last between 15 to 20 years with estimated total revenue of ETB61.9 billion and annual revenue of ETB3.52 billion, according to the feasibility study. The project is expected to crate job opportunities for 2,000 to 3,000 individuals.

The expansion is part of the 20-year strategic plan designed for the company and will take place in two phases. Phase one focuses on agro-processing and mining, whereas the second phase will be on manufacturing and construction.

Established in 2000, MIDROC engages in mining, farm, agro processing, manufacturing, construction, real estate, transport, and education sectors. It is operating with 6,000 workers and with annual turnover of ETB5 billion. "Within the coming months we will also announce farm expansion project mainly on coffee production," said Al-Amoudi.

 

 

75 comments

  • Richardgrorn

    which is cheaper viagra cialis or levitra
    viagra pill
    what mg does viagra come in
    viagra prices
    cut viagra pills in half

    Richardgrorn Wednesday, 11 October 2017 03:03 Comment Link
  • Sonjadob

    cbd oil for sale amazon cbd oil for sale in colorado pure cbd oil for pain relief
    cbd oil for sale vaporizer cbd oil benefits and uses cbd oil for cancer dosage
    how much cbd oil for pain relief cbd oil for sale vape pens cbd oil for cancer patients chocolate

    cbd oil benefits and side effects cbd oil dosage for chronic pain benefits of cbd oil for skin conditions
    cbd oil for colon cancer treatment cbd oil for sale on amazon cbd oil for sale colorado springs
    cbd oil for anxiety pure cbd oil reviews for pain cbd oil for pain relief

    Sonjadob Tuesday, 10 October 2017 23:16 Comment Link
  • ManuelSer

    viagra generico droga raia
    viagra for sale uk only
    cuanto sale el viagra en argentina
    buy generic viagra
    best viagra tablets

    ManuelSer Tuesday, 10 October 2017 22:04 Comment Link
  • Burt Mary

    Hi there, just wanted to share with you that we had a great holiday at Marina de Bolnuevo in July of this year. We flew into Alicante and hired a car from the airport for the short drive to Bolnuevo. The beaches are clean, most of them awarded the Blue Flag. The bars were great, with paella on the beach a highlight and managed a day on the nudist beach there. Very liberating. We also visited the Big Guns, The Roman Mines and the Sand sculptures. Will be returning there again in 2018. Thanks for reading Tony.

    Burt Mary Monday, 09 October 2017 12:04 Comment Link
  • Dovie Dazzi

    Greetings, just wanted to let you know that we had a great holiday at Marina de Bolnuevo in September of this year. We flew into Alicante and hired a car from the airport for the short drive to Bolnuevo. The beaches are fantastic, most of them awarded the Blue Flag. The cafes were great, with paella on the beach a must and managed a day on the nudist beach there. Very liberating. We also visited the Big Guns, The Roman Mines and the Sand sculptures. Will be returning there again next year. Thanks for reading Alicia.

    Dovie Dazzi Monday, 09 October 2017 12:04 Comment Link
  • Alina Sallade

    Hi, just wanted to inform you that we had a great time at Marina de Bolnuevo in September of this year. We flew into San Javier and hired a car from the airport for the short drive to Bolnuevo. The beaches are perfect, most of them awarded the Blue Flag. The bars were great, with paella on the beach a delight and managed a day on the nudist beach there. Very liberating. We also visited the Big Guns, The Roman Mines and the Sand sculptures. Will be returning there again next year. Thanks for reading Nikki.

    Alina Sallade Monday, 09 October 2017 08:50 Comment Link
  • Sam Koop

    Hi, just wanted to let you know that we had a great holiday at Marina de Bolnuevo in June of this year. We flew into Alicante and hired a car from the airport for the short drive to Bolnuevo. The beaches are clean, most of them awarded the Blue Flag. The bars were great, with paella on the beach a highlight and managed a trip to the nudist beach there. Very liberating. We also visited the Big Guns, The Roman Mines and the Sand sculptures. Will be returning there again in 2018. Thanks for reading Niall.

    Sam Koop Monday, 09 October 2017 08:50 Comment Link
  • JamesGassy

    what is car insurance for

    Car Insurance

    auto insurance companiesprogressive auto insurance
    about car insurance

    general auto insuranceAUTO Insurance

    JamesGassy Monday, 09 October 2017 03:21 Comment Link
  • Robertblept

    how do you get viagra to work
    Viagra 100 mg
    nome generico do viagra ems
    Generic Viagra
    can u cut viagra pill half

    Robertblept Friday, 06 October 2017 13:27 Comment Link
  • Agustinatore

    saatva mattress reviews amazon full size mattress usa reviews mattresses 2016 best mattress topper for sleeper sofa
    bed mattresses reviews uk best mattress on the market 2016 size of king size mattress in inches mattresses on sale in houston
    the best rated king size mattress 2017 cheap mattresses chicago reviews of casper bed - caspermattressreviews.org mattress casper wyoming - caspermattressreviews.org

    extra firm mattress topper at walmart best mattresses for back pain 2015 foam mattresses online only serta mattress reviews 2016
    measurements of mattress sizes latex foam mattress reviews ratings best mattresses in 2017 best firm hybrid mattress 2017
    twin mattress sale clearance casper mattress reviews comparison casper mattress reviews consumer - http://caspermattressreviews.org/ casper mattress chicago - caspermattressreviews.org

    Agustinatore Thursday, 05 October 2017 11:57 Comment Link

Leave a comment

Make sure you enter the (*) required information where indicated.Basic HTML code is allowed.

Tweets


ሰበር ዜና ብሄራዊ ባንክ ከነገ ጀምሮ የብር ምንዛሪ ተመንን በ15% እንዲገሽብ ውሳኔ አስተላለፈ፡፡ በተጨማሪም የገንዘብ ማስቀመጫ ወለድን ከ5% ወደ 7% ከፍ እንዲል ውሳኔ... https://t.co/fab8ZVRMVa

Breaking News National Bank of Ethiopia will depreciate the exchange rate of birr against a basket of foreign... https://t.co/1JPgVHEv1E
Follow EBR News on Twitter

Most Popular

  • 1
  • 2
Prev Next

The White-Box of Ethiopian Agriculture

The agricultural sector remains our Achilles heel, nonetheless, we remain convinced that agricultural-based development remains the only source of hope ...

Read more

For Whoever Has, to Him Shall be Given …

As the Ethiopian government seeks to transform the economy into one that’s rooted in manufacturing, the simplicity for local investors to access finance...

Read more

Commentary

  • 1
  • 2
  • 3
Prev Next

Shooting in the Dark: The Anomalies of Headhunting

The war for ‘heads’ – also known as talent – has been raging for many years and the manner headhunters ‘poach’ people is getting tougher ...

Read more

Understanding Chinese Investment in Ethiopia A Critical Evaluation of the World Bank’s “Chinese FDI in Ethiopia” Survey

The World Bank country office in Ethiopia, apparently in response to the request by the government of Ethiopia, has conducted a survey of...

Read more

Mitigating Growing Income Inequality: What Needs to Be Done

Rising income and wealth inequality in many countries around the world has been a long-term trend for three decades or more. But the atte...

Read more