ADDIS ABABA– A significant breakthrough has been achieved as Ethio Engineering Group (EEG) and Italian steel firm Danieli Co., Ltd. have signed an agreement to revive the stalled Nekemte Steel Processing project.
The agreement was signed by Ambassador Suleiman Dedefo, Chief Executive Officer of Ethio Engineering Group, and Danillo Drolini, President of the Africa Partnership Project at Danieli Steel Plant. This deal marks a major step forward in reviving the 50 million Euro project, which was put on hold prior to the ongoing reforms.
Once completed, the Nekemte Steel Processing Plant will have the capacity to produce 300,000 tons of steel and various Rebar and steel profiles annually. The project’s revival is expected to have a significant impact on the nation’s steel production supply.
Under the terms of the agreement, Danieli’s experts will conduct inspection and consulting works to facilitate the project’s resumption. This partnership is crucial in ensuring the successful completion of the project, which has been on hold for years.
The revival of the Nekemte Steel Processing project is expected to contribute significantly to Ethiopia’s steel production and supply capabilities, FBC reported.
THE ETHIOPIAN HERALD THURSDAY 4 JULY 2024
