Jul 28 , 2024
Messebo Cement, one of the largest cement producers, is poised for an operational recovery following the completion of a feasibility study by Industrial Projects Services (IPS). The factory, which resumed operations last year after a two-year hiatus due to the northern region conflict, has faced operational issues due to inconsistent power supply. Established in 1993 with a capital of 60 million Br, Messebo Cement was later recapitalised with 240 million Br, with the Endowment Fund for the Rehabilitation of Tigray (EFFORT) becoming the majority shareholder. The plant holds a 15pc market share in a sector dominated by players like Dangote, Derba, and Mugar. IPS General Manager Shewaferaw Solomon presented the feasibility report to Messebo representative Tekeste Tadesse last week. The consulting firm has also conducted similar studies for several sugar factories in the country.
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