Euro Cable, a Turkey-Ethiopia joint venture, Thursday inaugurated a state-of-the-art cable manufacturing plant that will boost its annual output by threefold. The plant, established by Turkish cable producer Demes Cable and Ethiopia's Glorious Company, is located in the town of Gelan, 25 kilometers south of the Ethiopian capital, Addis Ababa.
Ethiopian officials and the Turkish ambassador to Ethiopia and the African Union, Yaprak Alp attended the inauguration ceremony.
Company manager Said Ibrahim said they invested $40 million in building the new 10,000-square-meter facility. "We used to produce 4,000 tons of different types of cables for the local market annually, but now our annual production capacity will reach around 12,000 tons," she said, adding that the new plant will help them produce high-voltage electric cables and data cables.
Ethiopia's Deputy Trade Minister Teka Gebreyes said Euro Cable has demonstrated an enduring and growing partnership between Ethiopian and Turkish investors. "The joint venture has overcome many challenges and transformed itself into a state-of-the-art facility," he said, adding that "the Ethiopian government will continuing to support its operations."
The Turkish ambassador, for her part, said Euro Cable represents "yet another strong block for Ethiopian-Turkish relations."
"Turkish companies invest in Ethiopia because they believe in Ethiopia's strength and future. This is why we help and motivate them," she added.
Another Turkish cable manufacturer, BMET, which produces multipurpose high-voltage electric cables and data cables, also has a notable presence in the Ethiopian market. In addition to the booming construction sector, Ethiopia plans to build 9,000 kilometers of electric distribution lines and 19,000 kilometers of transmission lines within the next 15 years. Euro Cable was established in 2007 and employs 300 people.
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