A factory built with 5millionUSD by a Sudanese investor in Addis Ababa was inaugurated on Thursday.
Speaking at the inauguration of the factory, Industry State Minister Dr. Mebrhatu Melese said the factory built by Albaz Industrial Company will have a big share in enhancing the infrastructure and construction works in the country.
The state minister noted that broad-based activities are being carried out in the industry sector in Ethiopia.
The country will save over 2 million USD foreign currency annually with the establishment of the factory, he said.
The factory uses more than 60 percent of its inputs from local raw materials and this contributes to saving foreign currency, it was indicated.
According to Dr.Mebrhatu the Ethiopian government has been providing production sites and multiple forms of assistance for both local and foreign investors.
The factory manufactures electric poles, adhesives, water tankers, dishes, and others.
The owner of Albaz Industrial Company, Mohammed Hassen expressed his plans to expand the factory. This Sudanese factory in Ethiopia has employed about 300 persons, according to Hassen.