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.




  • LoganVaf

    cialis by mail order
    generic cialis online
    canadian pharmacy buy cialis professional
    generic cialis
    order cialis with paypal

    LoganVaf Friday, 11 August 2017 17:15 Comment Link
  • Lioneljow

    cialis for sale in australia
    cheapest cialis from india
    generic cialis
    cheap cialis thailand

    Lioneljow Tuesday, 25 July 2017 19:53 Comment Link
  • Michaelpidly

    effetti viagra 100 mg

    onde vende o generico do viagra

    viagra for sale pharmacy

    Michaelpidly Sunday, 23 July 2017 14:21 Comment Link
  • Davidamift

    buy kamagra oral jelly paypal
    buy kamagra
    buy kamagra liverpool
    buy kamagra
    buy kamagra bangalore

    Davidamift Saturday, 22 July 2017 18:19 Comment Link
  • kamagra sildenafil citrate 100mg forum

    sildenafil citrate 100mg australia
    secure tabs online viagra 100mg
    safety viagra bought online
    viagra where to buy philippines
    how to spot a fake viagra pill

    kamagra sildenafil citrate 100mg forum Wednesday, 19 July 2017 01:07 Comment Link
  • loans no credit check

    direct deposit payday loans
    online loan
    urgent cash advance
    payday loans no credit check
    my payday advance

    loans no credit check Tuesday, 18 July 2017 16:12 Comment Link
  • get viagra work

    generic cialis viagra levitra online
    price comparison of viagra cialis levitra
    is there a safe place to buy viagra online
    do you have to have a prescription to buy viagra
    viagra blood pressure pills

    get viagra work Tuesday, 18 July 2017 03:00 Comment Link
  • Davidsex

    canadian pharmacy online
    canadian pharmacy reviews
    online pharmacies that do not require a prescription
    canadian pharmacy viagra
    Online Pharmacy

    Davidsex Thursday, 06 July 2017 00:06 Comment Link
  • Alberto

    Hello! I could have sworn I've visited this web site before but after
    looking at some of the articles I realized it's new to me.
    Anyways, I'm certainly delighted I came across it and I'll be
    bookmarking it and checking back often!

    Alberto Thursday, 01 June 2017 18:24 Comment Link
  • Ingrid

    Good day! Would you mind if I share your blog with my twitter group?

    There's a lot of folks that I think would really appreciate your
    content. Please let me know. Thanks

    Ingrid Saturday, 24 December 2016 11:26 Comment Link

Leave a comment

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

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


  • 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