North Holding Investment Inc (Ethiopia Branch), an American investment firm, is planning to construct a close to five billion Birr cement factory in the Dejen Zone of the Amhara Regional State.
The company received its license from the Amhara Regional Investment Commission almost nine months ago and will construct a factory with an annual production capacity of 7.8 million tonnes of cement.
Of the 451 investments made in the Amhara Regional State during the same period, this is by far the largest taking up the lion’s share of the 9.4 billion Br combined investment.
Once the factory becomes fully operational in 2009, Northern Holding Investment Inc will have the largest factory in the country, both in investment capital and production capacity. There are currently 18 existing and registered cement factories in Ethiopia.
Dejen Cement Factory, another large investment in the same area, is a subsidiary company of the MIDROC Group owned by Derba MIDROC Cement PLC. The Factory is expected to begin production next year and has an annual production capacity of 134,377tn of cement.