CIEG expresses interest to invest in fertilizer, cement, renewable energy in Ethiopia

Addis Ababa, March 6, 2023 (FBC) – State Minister of Finance, Semerita Sewasew, discussed with the delegation led by China International Energy Group (CIEG) Chairperson, Li Xiang.

During the discussion, they advised on the economic cooperation between Ethiopia and China and the future investment and economic cooperation.

Semerita recalled that CIEG has been partaking in power generation and drinking water project constructions in Ethiopia.

She underscored that Ethiopia is committed to working with this huge company and other Chinese investors.

On his part, Li Xiang said that CIEG has built Tekeze power plant, Fincha Amerti Nash power plant, Genale Dawa 3 power plant and drinking water projects in Ethiopia.

He indicated that his company is interested in investing in fertilizer factories, cement factories, and renewable energies in Ethiopia.

CIEG is one of China’s giant companies and is an investment firm with a capital of several billion dollars, it was learned.

In addition to power generation constructions, CIEG is also engaged in drinking water projects, manufacturing, housing construction, and many other investment sectors, according the Ministry of Finance-Ethiopia.