Joining hands with Falcon Chemicals LLC, Albazz Industries PLC plans to begin making construction chemicals primarily using local materials.
Albazz CEO Mohammed Hassan said most of the raw materials which will go into products like paint, coatings, adhesives and construction chemicals are found in Ethiopia. Producing these chemicals will create jobs, save foreign currency and reduce imports significantly.
He explained that the products can be used for factories such as Carpentry, Joineries, Furniture factories, Paper & Packaging Industry, Paper converting industries, Bottle labeling, Printing & Cigarette industry.
Mebratu Melesse, State Minister of Industry, said some of the products, like paint, will be used in the government housing program.
Falcon manager, Mitika Gocunlda also said that other products will be used as glass replacement plastics which will reduce costs of materials used in telephone poles by 50 percent.
Falcon Chemicals LLC was established in the United Arab Emirates in 1976. The company has diversified into several business sectors with a marketing network spread across the Middle East, Africa, India and the Far East.