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Saudi Billionaire Signs US$600 Million Ethiopian Steel-Plant Deal
10/08/2012 - An Ethiopian company owned by Saudi billionaire Mohammed al-Amoudi and Italy’s Danieli & C Officine Meccaniche SpA signed a US$600 million deal to build the nation’s biggest steel plant, Project Director Shimelis Eshete said, according to a published report.
An Ethiopian company owned by Saudi billionaire Mohammed al-Amoudi and Italy’s Danieli & C Officine Meccaniche SpA signed a US$600 million deal to build the nation’s biggest steel plant, Project Director Shimelis Eshete said.
Derba Group’s Toussa steel factory, which will take three years to build at Gelissa near Kombolcha town, will convert scrap metal imported mainly from Europe and the U.S. to meet growing steel demand in Ethiopia and East Africa, he said...
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