Abay Industrial Development SC to Set Up 3bln Birr Timber Processing Plants  


Abay Industrial Development SC to Set Up 3bln Birr Timber Processing Plants  
Abay Industrial Development SC to Set Up 3bln Birr Timber Processing Plants  

Abay Industry Development Share Company is set to build three wood processing factories which the cost of 3 billion birr in Amhara regional state.

The factories which planned to built-in Woldia, Debre Birhan and Debre Tabor towns are expected to create more than 15 thousand job opportunities for the local people, according, to Fana Broadcasting corporate.

The factories are planning to replace imported woods with locally produced ones that would enable to reduce foreign currency.

The three plants will cost a total of 3.3 billion birrs, and each will be constructed in ten hectares of the plot of land.
The construction will be commenced in six months of time, according to FBC.

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, at the mouth of the Great Abay Gorge, and an area rich in mineral resources used for cement production.


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Solomon Yimer

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