Sunday, December 25, 2005

Iranian Aluminum Plant Operational in Ethiopia

Iran Mania -- Iran?s largest investment project in Ethiopia has become operational in the eastern African country.

According to Moj news agency, the aluminum factory constructed by Iranian companies in Ethiopia will make the African country self-sufficient in aluminum and do away with the need for imports.

The factory?s production capacity stands at 1,500 tons at present. This figure is expected to double by the end of 2006. Materials and equipment needed to make the aluminum factory operational would come from Iran, he said.

The inauguration ceremony of the biggest ever investment by an Iranian company in Ethiopia was launched at the Sheraton Addis on December 17.

According to Ethiopian sources, the partnership will enable Ethiopia to compete both in the domestic and global markets by providing new technology that Ethiopia can take advantage of. The Ethio-Iran Aluminum Factory was established in 2003 with an initial capital investment of $25 mln in Sululta, some 25 kilometers from the capital, Addis Ababa.

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