Cement factory to be built by Chinese company in Ethiopia
A cement factory is planned to be built in Ethiopia by Quiantang In China Product Plc. The factory will be built on 23.33 hectares of land granted by the Oromia Regional State, with a capital outlay of 244.10 million birr.
The Chinese company has been requested by the Investment Board of Oromia to pay 6,258,884.62 birras compensation for the relocation of 39 farmers currently inhabiting the land grant according to a letter issued by it. As soon as the compensation payment is effected, the Oromia Investment Commission will finalize the land transfer and sign a contract agreement. The compensation amount has already been paid by the Chinese company alongwith the signing of necessary documents. The project is expected to commence in the next six months. Ethiopia has registered 25 foreign and domestic companies as investors in the cement sector. Operations have already been launched by eight factories.