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Mesfin to build cars for Geely in Ethiopia
Source: Bloomberg News |
November 14, 2012, Wednesday
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Print Edition
ETHIOPIA'S Mesfin Industrial Engineering Plc expects to build cars for China's Geely Automobile Holdings Ltd within five years, General Manager Habte Hadish said yesterday.
Mesfin Engineering, which is based in Mekele, 504 kilometers north of the capital, Addis Ababa, is now assembling six cars a day for Geely and wants to move into full production. "Cars will be manufactured in Ethiopia," Habte said in Addis Ababa. "This can happen in the coming three to five years."
Mesfin Engineering is part of the Endowment Fund for Rehabilitation of Tigray led by Azeb Mesfin, the widow of former Prime Minister Meles Zenawi. Effort, as the conglomerate is known, has interests in construction, cement, trucking and textiles. The Tigray People's Liberation Front, led by Meles until his death in August, established the company in 1995.
Mesfin Engineering's revenue grew about 19 percent to 620 million birr (US$34 million) in the year to July 7, Habte said.
Mesfin Engineering, which is based in Mekele, 504 kilometers north of the capital, Addis Ababa, is now assembling six cars a day for Geely and wants to move into full production. "Cars will be manufactured in Ethiopia," Habte said in Addis Ababa. "This can happen in the coming three to five years."
Mesfin Engineering is part of the Endowment Fund for Rehabilitation of Tigray led by Azeb Mesfin, the widow of former Prime Minister Meles Zenawi. Effort, as the conglomerate is known, has interests in construction, cement, trucking and textiles. The Tigray People's Liberation Front, led by Meles until his death in August, established the company in 1995.
Mesfin Engineering's revenue grew about 19 percent to 620 million birr (US$34 million) in the year to July 7, Habte said.
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