Fortune News | 27231 Views | Jul 18,2020
June 6 , 2019
The cornerstone was laid today, June 6, 2019, in the presence of Takele Uma, deputy mayor of Addis Abeba, Abinet Gebremeskel, CEO of MIDROC Ethiopia’s Project Management Office, and Jemal Ahmed, managing director of Horizon Plantations Plc.
Horizon Plantations, a subsidiary of MIDROC Ethiopia Group, has laid a cornerstone for the construction of a flour and bakery plant with an investment of 800 million Br.
The cornerstone was laid today, June 6, 2019, in the presence of Takele Uma, deputy mayor of Addis Abeba, Abinet Gebremeskel, CEO of MIDROC Ethiopia’s Project Management Office, and Jemal Ahmed, managing director of Horizon Plantations Plc.
"The City Administration initiated the project and Sheikh Mohammed Ali-Al Amoudi, chairperson of MIDROC Ethiopia, very gladly accepted the idea to invest in the project," said Mekonnen Teshome, communications and public relations manager at MIDROC.
Planned to become operational within four to six months, the plant is expected to bake 80,000 loaves of bread an hour. It is being built in Aqaqi Qality District and is expected to sell 100g of bread for 75 cents, a significant cut from the two Birr available in the market today.
The project is aimed at alleviating the shortage of bread in the city and stabilising the ever-growing price of bread, according to Addis Abeba Mayor's Office.
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