MIDROC Undergoes Major Expansion

Aug 10 , 2019


[ssba-buttons]

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.


Radar

US Renews National Emergency, Sanctions on Ethiopia

The United States has extended the national emergency and sanctions on Ethiopia for another year under the African Growth & Opportunity Act (AGOA). Signed by President Donald J. Trump, the measure was first declared on September 17, 2021, through an executive order citing the conflict in northern region of the country as an "unusual and extraordinary" threat to U.S. national security and foreign policy. The extension, effective until September 17, 2026, keeps in place restrictions targeti...


Radar

Rockefeller Pitches Clean Cooking to Curb School Meal Emissions

A recent study has revealed the staggering environmental toll of school feeding programs. A single school serving 400 students can burn through the equivalent of 56 hectares of forest each year to fuel cooking. The Rockefeller Foundation flagged the health risks too, with most cooks, predominantly women, breathing smoke levels ten times higher than the World Health Organisation's safe limit. "If every school meal transitioned to clean cooking with electricity and solar, the emissions saved wo...


Radar

Sun-Powered Grid Brings Light to Qunbi District

A new 600KW solar mini-grid in East Hararge'sQunbi district has connected 2,200 households to electricity, marking a milestone in the recent rural electrification push. Ethiopian Electric Utility (EEU) laid seven kilometres of medium-voltage and 10 kilometres of low-voltage lines, installing four transformers to reach communities long cut off from power. Customers cover only meter and installation costs before accessing the service. The project is part of the national strategy to expand energ...