Ethiopian cement factories, Mesobo and Mugher have reduced the price of their cement products. The price changes are effective for Mugher products starting today.
The new prices for Mugher Cement in Addis Ababa are ETB278 and ETB350 for OPC. Mesobo PPC cement will sell for ETB200 and OPC will sell for ETB280.
The factory decided to reduce prices because recent expansion projects undertaken by the factory have resulted in increased production, according to Ato Elias Kifle Director of Mugher project Directorate.
The expansion has increased the production of Mugher cement to 2.2Mt from 870,000t.
Similar expansion has also increased the capacity for production of Mesobo to 2.2Mt from 850,000t previously.
It is to be remembered that Mugar and Messobo, requested that the government halt cement imports in letters to the Ministry of Finance and Economic Development. The cement factories claimed that they can produce enough to meet local demand.
There has been seen an unexpected change in trend in the cement sector where supply could very well exceed existing demand according to industry sources. There are more cement factories in the sector while demand is decreasing.
Mugher Cement has taken this trend into consideration and is planning to open its doors to the private sector, according to sources from within the company.
Source: The Reporter