Capital Ethiopia Newspaper

Chinese Company to construct a 244 mln Birr cement factory

Qiantang In china Cement Product Plc, a Chinese company, is to construct a cement factory with a capital of 244.10 million birr in Ada’aBarga district of West Showa zone, Oromia Regional State. According to a letter written on December 30, 2011, the Investment Board of Oromia said it had approved a request by the company to be granted 24.33 hectares of land to build the cement factory.
In its letter the board instructed the company to pay 6,258,884.62 birr in compensation to relocate 39 farmers residing in the area. The Oromia Investment Commission will hand over to the company the requested land as soon as the compensation payment was effected and the necessary agreement signed within 15 days starting from the day it was approved, the letter stated.
According to KabbaHunde, Director General of the Investment Board of Oromia, the company has already paid the compensation and signed the agreements as well.
“The board expects the project to commence within six months,” Kabba told The Reporter.
(The Ethiopian Reporter)