Addis Ababa, 11 May 2015 (WIC) – MIDROC Ethiopia Technology Group announced that it would expand its projects in agro-industry and mining sectors with 8 billion birr.
During the press briefing he gave yesterday, MIDROC Ethiopia Technology Group CEO Dr. Arega Yirdaw said the projects include gold mining development, modern poultry, irrigation supported animal fooder development, and integrated milk and meat development, among others.
The CEO indicated that Benishangul Gumuz, Amhara and Oromia regional states are favorable areas for mining, poultry, as well as diary, fodder and meat, respectively.
According to him, exploration activities carried out for ten years with 310 million birr have confirmed that there is huge mineral deposit in Bulan Woreda of Benishangul Gumuz.
This would enable MIDROC Ethiopia to extract 33.9 tons of gold, he said.
With respect to agro-processing, the group is making preparations to export 65 million eggs and 6 million kilogram chicken, it was indicated.
He stated that MIDROC Ethiopia has also been working to supply meat and milk to both local and foreign markets by bringing about change in quantity and quality.
Ethiopian Investment Agency Director-General, Fitsum Arega said on his part the group that has been carrying out diverse investment works in the country is exemplary.
According to him, the government has been providing incentives to encourage investors. The director-general said it is still ready to give all the necessary support to developmental investors.
Upon going fully operational, the projects would enable the country earn 880 million birr in taxation and related incomes, it was learned.
The expansion works will take up to five years and create 3,000 jobs.
According to ENA, MIDROC Ethiopia Technology Group owns 21 companies engaged in education, agriculture, manufacturing, agro-industry and others projects.