Ethio Cement Plc
Date of Establishment
Induction of foreign shareholders
Ato Endale Yirga
Ethio Cement PLC, has been incorporated as a private limited company registered at Addis Ababa, Ethiopia, for the setting up of integrated cement plant with a capacity of the clinker production plant 540,000 tons per annum of clinker, main raw material for making of 771,429 tons per annum of Cement .
The company has been incorporated as a joint venture between an Ethiopian investor and WACEM (West African Cement SA) a company promoted by Indian enterprenurers, having the base at Togo, West Africa. WACEM is having the manufacturing capacities of cement and clinker over 2 million tons per annum, in Togo, Ghana, and Burkina Faso. It has also taken up some more new projects for setting up of integrated cement plants at Mali, and Niger and also with expansion existing capacities.
Ethiopian Investor, Mr. Endale Yirga is coming from a business family, having furniture manufacturing, construction, flower farms and other businesses.
The project cost of about Birr 1700 Mln is financed by equity capital Birr 1000 Mln and balance by way of term loans from NIB International bank S.C and Development bank of Ethiopia (DBE)
The plant is located near Addis Ababa, capital of Ethiopia, where the 75% of cement is consumed in the country.
ETHIO-CEMENT Private Limited Company is a legal entity.
Due to huge investment cost of the project, the company has inducted an experienced industrialist Mr.Motaparti Sivaramavara Prasad having sufficient potential technically and financially to support the project as shareholders. The list of share holders is as mentioned below.