Prime Minister Abiy Ahmed today officially inaugurated the Adama Steel Factory expansion project, which cost 5.6 billion Birr. Adama Steel Factory was founded in 2011 in Adama town with a total capital of 40 million Birr.
Oromia has been making nail and tin for a long time. The facility has completed a 5.6 billion Birr expansion project and is now producing more metals and tubolare ferro products.
Currently, the factory’s entire capital stands at more than 7.8 billion Birr. In addition to its current goods, the expansion project will allow the firm to make ferro, wires, and other metal products. The plant has now employed 9,000 people in permanent and temporary positions, with an additional 3,000 employment projected once it is fully functioning.
‘’Adama Steel Factory is a model for starting small and growing big. Today’s celebration of its expansion project is an acknowledgement of the immense capacities our industries possess to produce essential construction inputs locally. Multiplying such homegrown models will greatly support in reducing our foreign currency expenditures’’ said PM Abiy Ahmed on social media.
The opinions expresses here in the post "Adama Steel Factory Expansion Project Inaugurated" are those of the individua's contributor(s) and do not necessarily reflect the views of Business Info Ethiopia , BIE Intelligence PLC, its publisher, editor, or any of its other contributors.