Chinese cement manufacturing firm keen on investing in Ethiopia

Addis Ababa, April 10, 2023 (FBC) – Chinese cement manufacturing firm, SINOMA International, expressed keen interest to explore the sector’s investment opportunities in Ethiopia.

Ethiopia’s ambassador to China, Tefera Derbew, held discussion with board chairperson of SINOMA International Engineering and Executive Director of China National Building Material Group (CNBM), Liu Yan.

In their discussion, they advised on the possibility of the company investing in the cement sector in Ethiopia, the Ethiopian Embassy in Beijing indicated.

Ambassador Tefera thanked the company for its contribution to the cement factories in Ethiopia from design to construction.

The Ethiopian envoy explained that considering the huge scope of construction in his country, the demand for cement is increasing.

It is noted that if the company seizes the investment opportunity in Ethiopia considering the high demand for cement in the east African country, the mutual benefit is massive.

Ambassador Tefera also invited the Chinese company to participate in the “Invest Ethiopia” investment forum to be held in Addis Ababa at the end of this month.

For his part, Liu Yan said that cement and steel are important resources for the development of a country.

Mr. Yan also confirmed that his company is interested in building a factory equipped with state-of-the-art technology that helps prevent climate change.

The head of the company accepted the invitation from the Ethiopian embassy and confirmed that they will send a team to participate in the upcoming “Invest Ethiopia” investment forum.