Abay Industrial Development Share Company is behind the seven mega projects to be erected in the Amhara Regional State.
(Addis Fortune)–A series of mega industrial plants, whose investments is spearheaded by the Amhara Regional State, were launched last week, with the laying of a foundation stone in the town of Dejen, 240Km north-west of Addis Ababa, sources disclosed to Addis Fortune. Abay Industrial Development S.C., a public-private company established with four billion Birr registered capital raised from close to 400 founding shareholders, is behind the seven mega projects to be erected in the Amhara Regional State. The first, a cement plant, will be constructed near the town of Dejen (eastern Gojam), at the mouth of the Great Abay Gorge, and an area rich in mineral resources used for cement production.
A group of high-level federal and regional authorities were traversing for five days between various towns in the state, witnessing the launching of such investment projects in Bahir Dar, the seat of the regional state, followed by events in such cities/towns as Gondar, Debre Tabor, Woldia and Dessie. The town of Debre Berhan, 130Km north-east of Addis Ababa, where the company foresees the erection of a manufacturing plant for MDF, will see the conclusion of the series of these events.
Mr. Tesfaye Getachew, vice president of the Amhara Regional State, chairs the board of directors of the share company, Abay Industrial Development.
Source: ENLBA
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