Ethio-Engineering Group, Faresin Formwork sign agreement

Addis Ababa, June 6, 2024 (FBC) – Ethio-Engineering Group and Faresin Formwork, a leading Italian company specializing in formwork systems for the construction industry, have signed a 3 million euros contract agreement in Rome, Italy.

This agreement will enable Ethio-Engineering Group to exclusively produce aluminum formwork within the country, thereby advancing the construction machinery manufacturing industry under the group. The contract was signed by Ambassador Suleiman Dedefo, CEO of Ethio-Engineering Group, and Giacomo Dalla Fontana, CEO of Faresin Formwork. The event was also attended among others by Ethiopia’s State Minister for Foreign Affairs Ambassador Mesganu Arga, Ethiopia’s Ambassador to Italy Demitu Hambissa, and other senior officials.

The agreement will allow the growth of the construction industry in the Ethiopian market, specifically for formwork and scaffolding systems, through the local production of materials using Faresin Formwork’s technology. The aim is also to develop skills and create a long-term agenda for the training of engineers, metalworkers, and operators at construction and production sites.

Moreover, technology transfer, cooperation, and consulting activities will be carried out according to the agreement. This collaboration will not only modernize the construction sector in Ethiopia but also reduce the labor force, increase the speed and quality, and limit the foreign currency spent in the sector.

In other news, Ethio-Engineering Group and Electrify Ethiopia Pvt. Ltd. have signed a memorandum of understanding to establish manufacturing facilities in Ethiopia for technical support, technology transfer, and the production of electric vehicle supply systems, battery energy storage systems, and important components in a strategic partnership.

The agreement was signed by Ambassador Suleiman Dedefo, CEO of Ethio-Engineering Group, and Tesfaye Abebe, manager of Electrify Ethiopia Pvt. Association.