Aug 13 , 2022
Woda Metal Industry Plc has inked a deal with the Ethiopian Investment Commission to expand its 19hct plant in Sebeta town, Oromia Regional State. The Chinese-owned company is involved in the manufacturing of steel structures such as telecom towers, high voltage cables and metal bellows. Its managers want to expand the facility in Sebeta to cover 100hct, erecting three assembly lines for electric cars, transformers and tyres. They estimate the expansion will require 95 million dollars. Close to 500 medium and large basic metal and engineering industries with a combined annual production capacity of 11 million tonnes operate in the country. Out of the total, 28pc are foreign companies. A lack of raw materials and foreign currency means metal industries are not utilising their full capacity.
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