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Ethiopian beer-maker Raya Brewery has announced it has raised 500 million birr to fund the construction of a new plant.

The company hopes to complete the new factory – to be located on the outskirts of Maichew, 670km north of Addis Ababa in the Tigray regional state – in a year’s time. It will produce 600,000 hectoliters of beer annually.
Lieutenant General Tsadkan Gebretensae, former Chief of Staff of the Ethiopian Defence Force and Raya Brewery Board Chairman, told Capital that the company has already opened a Letter of Credit for the purpose of importing machineries needed for the production plant.
He said that two European companies are in the process of manufacturing the required machines.
Around six months ago, Raya signed a deal with a consortium of Czech and German companies for the commissioning and installation of a brewing machine and bottling plant.
In May, the company secured 630 million birr in loans from the Commercial Bank of Ethiopia and has a total of 1.13 billion birr to pay for the new facility.
The brewery will be the first of its kind in the Tigray Regional state, and according to Tsadkan, initially had plans to produce 300,000 hectoliters every year. But the company recently revised its plans, doubling the quantity that will be produced at the brewery every year.
Radar Construction, a local company, is carrying out the civil work in Maichew, according to the Chairman.
BGI Ethiopia – the country’s biggest brewery, which makes St George, Castel and Amber Beer, has acquired a 42% stake in Raya Brewery, worth 210 million birr. “The rest of the shares are owned by other Ethiopians,” Tsadkan explained.
The Ethiopian businessman Dawit Gebre Egziaber has acquired brewery shares worth 125 million birr.
Another brewery under formation, Habesha Brewery, has secured a 370 million birr loan from the Commercial Bank Ethiopia to construct a future brewery on the outskirts of Debre Birhan, 130km Northeast of Addis in the Amhara regional state.
Habesha already has the Chinese company, Lehui Food Machineries, under contract to design and build the brewery at a cost of 510 million birr.
Habesha will be the second brewery in Debre Birhan, where Dashen Brewery is already constructing its second plant, expected to produce 500,000 hectoliters of beer per year, according to the company’s original plan. Its first plant is in the town of Gondar.
Heineken Brewery NV, the biggest international brewery in Ethiopia, has also secured 3 billion birr from CBE for its new plant at Kilinto, on the Eastern outskirts of Addis. The international brand has bought Harar and Bedele breweries from the Privatization and Public Enterprises Supervising Agency (PPESA) two years ago for USD 163.3 million.