Worku Ayetenew, quite possibly of Ethiopia’s richest financial backer, begins the development of a concrete plant with a venture of $1 billion. When contrasted with the five billion birr eatable oil office he opened last year and his latest interest in Ahadu Bank, this will be his biggest venture to date.
Worku is the latest organization to enter the productive concrete market. Buzuayehu T. Bizenu, the proprietor of Public Concrete, and Al Amoudi, a critical investor of Derba Concrete, have been engaged with the business for north of a decade. Getu Gelete, who is likewise a finance manager, just purchased a 40% stake in Habesha Concrete from Pretoria Portland Concrete Plant Ltd.
After the public authority opened the market to unfamiliar contest with speculation regulation endorsed a long time back, the concrete business has likewise gotten the premium of worldwide financial backers. In Ensaro, Amhara Territorial State, Public Concrete worked with a Chinese organization to fabricate a concrete plant for USD 2.5 billion.
Worku is likewise searching for an accomplice for the new concrete processing plant, which will be worked around Dejene town in the Amhara Territorial State, 230 kilometers from the capital. He has previously requested to rent 150 hectares of land for the undertaking.