Mina Yirga
19 December 2005
Addis Ababa — The inauguration ceremony of the biggest ever investment of an Iranian company in Ethiopia was launched at the Sheraton Addis on December, 17, 2005.
In his speech to the audience at the inauguration ceremony, Iranian Ambassador to Ethiopia Mr.Morteza Demanpak Jami spoke of the history of Ethio- Iranian diplomatic ties during which time he said the two sides agreed to boost bilateral relations by establishing a joint economic commission.
Announcing the official inauguration of the company and its worth to EthiAopian economy as regards to the country's needs of alluminium orofiles,he said,"Today, we are here to celebrate the inauguration of one of the biggest investments of an Iranian company in Ethiopia, which will create job opportunities for Ethiopians and which will make Ethiopia self-sufficient in aluminium profiles and stop importing aluminium profiles from abroad" "The Ambassado ralso noted that the company's production capacity was 1500 tones and that this would be increased to 3000 tones by the end of year 2006.
The materials and equipment necessary for the operation of the aluminium company, he said would come from Iran.
"I must point out here that all equipments and machineries used in this factory are made in Iran," he said.
Government official present at the ceremony on behalf of the state Minister for Trade and Industry, Ato Tadesse Haile, was Ato Michael Fisseha. Michael said, "The partnership will enable Ethiopia to compete both in domestic and global market regarding Aluminium products and it forms new technology that Ethiopia can take advantage of." The company which will go under the name Ethio-Iran Aluminium Factory was established in the year 2003 with an initial capital investment of 25 million dollar in Sululta, some 25 kms from the capital.
The company will create lob opportunity for about 50 Ethiopians, according a documentary film about the company.
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