MIDROC Undergoes Major Expansion

Aug 10 , 2019

MIDROC Technology Group, a business founded by the Ethio-Saudi business tycoon Mohammed Hussein Ali Al-Amoudi (Sheik), has invested a total of 286 million Br in expanding three companies under its management. Summit Partners Plc, a company that engages in plant, machinery equipment and facility leasing, built offices and factory buildings at a total cost of 170 million Br and rented them out to other sister companies under MIDROC group, WANZA Furnishing Industry Plc and Addis Gas & Plastic Factory Plc. WANZA, a company established in 2004, upon renting its facility built at a cost of 77 million Br, then installed 60 million Br worth of machinery and office equipment. The other renter, Addis Gas, a company that produces gaseous and plastic products, also got new offices and a production plant built by Summit Partners for 56 million Br, and then Addis invested 8.4 million Br on installing new equipment. Summit has expanded its real estate development into industrial centres and also built a fuel station for 23.8 million Br. Summit Partners was established in 1997, and the first company that joined its park was Moha Soft Drink Industry S.C.