Kombolcha Steel Products Industry PLC (KOSPI), a subsidiary of MIDROC Investment Group, has inaugurated a state-of-the-art door manufacturing factory in Gelan town.

The factory is expected to save Ethiopia about 50 million USD annually in foreign exchange.

Speaking at the inauguration, MIDROC Investment Group CEO Jemal Ahmed said the new facility underscores the group's focus on strengthening Ethiopia's manufacturing base. "The factory will play a significant role in saving foreign exchange, creating jobs, and enhancing the nation's steel industry," he stated.

KOSPI General Manager Bikila Bekana emphasized the factory's contribution to economic growth and industrial development. "This modern door assembly factory will not only create jobs and reduce reliance on imported products, but also support other sectors by supplying advanced construction materials," he said.

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Constructed within seven months, the factory covers 8,400 square meters and currently employs 150 people. Once fully operational, it is expected to generate more than 250 jobs for the local community.

Equipped with advanced technology, the production line will manufacture rustproof, fireproof doors fitted with smart keys and internal security cameras features aimed at improving quality and meeting the growing domestic demand for modern construction inputs.

KOSPI, already known for producing a wide range of standard and engineering steel products, views this expansion as a milestone in diversifying its offerings. The company expects the new facility to substantially reduce Ethiopia's dependence on imported doors and contribute to import substitution.

"This facility not only relieves the country's foreign exchange burden but also strengthens the foundation for sustainable industrial development," Bikila noted.

He added that MIDROC and KOSPI remain committed to expanding investment in manufacturing as part of efforts to build a stronger, self-reliant economy.