Adama Steel factory, a private company located in Oromia region of Ethiopia, has completed its expansion project with investment of 5.6 billion Birr.
This is indicated at the inauguration ceremony held on Monday in attendance of Prime Minister of Ethiopia Abiy Ahmed. Named after the City of Adama, the Factory has so far invested some 7.8 billion Birr, according to the report of the state news wire, ENA.
The factory, which currently created permanent jobs for 900 people, is expected to increase its manpower to 3,000 when it goes operational, the report indicated. Minister of Industry Melaku Alebel, who also attended the inauguration, has said currency there are a total of 500 small and microenterprises engaged in production of materials from steel.
Prime Minister Abiy on his part stressed the significance of the private sector engaged in manufacturing industry for the development of Ethiopia. He indicated that the manufacturing sector is given priority and special attention by the Government of Ethiopia.
Abiy also urged the private sector to be engaged in the manufacturing industry and support the development of the country.