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[Nov 2017] TIRET Corporate Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Tiret Corporate to take over Bahir Dar and Kombolcha Textile Share Companies

The Prime Minister Office has given the order to Ministry of Public Enterprises (MoPE) to transfer Bahir Dar Textile S.C, and Kombolcha Textile S.C, to Tiret Corporate, an endowment company affiliated to the ruling party in the Amhara Regional State. However, the transfer will be made at a price lower than expected.

Tiret offered 450 million Br and 315 million Br for the acquisition of Kombolcha and Bahir Dar textile factories, respectively. It has been informed of the decision and is expected to sign a contract soon. Registered as

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Tiret’s Subsidary Assembles Samsung Refrigerators at 135m Br

Azila Electronics, a newly established subsidiary company Tiret Corporate, an endowment organisation, with Amhara National Democratic Movement (ANDM), has commenced a refrigerator assembling factory in Debre Birhan at a cost of 135 million Br.

Established in 2014, Azila Electronics secured the finance from the Commercial Bank of Ethiopia, while handpicking the state-owned Metal & Engineering Corporation (MetEC) for the construction of the factory on 20,000sqm in Kebase Kebele. According to Seid Mohammed, Production &

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Dashen Brewery to Begin Production at Two Billion Birr Plant

Dashen Brewery Plc is to begin production at its newly constructed second plant, built in Debre Birhan town.

The plant will produce two million hectolitres in its first year and three million hectolitres after that, according to Dessalegn Mekonnen, project manager. The new factory is producing the same quality of beer as Dashen’s first plant in Gonder with the same packaging and 4.5pc of alcohol.

It was expected to take 2.6 billion Br, but the whole plant, including the building and machinery, was completed for just two

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Ministry Rations Imported Edible Oil, 40m litres Monthly

The Ministry of Trade (MoT) has rationed the 40 million litres monthly import of edible oil among nine businesses which were previously selected.

The nine businesses include three endowments, one government and five private companies. The MoT selected these out of 300 businesses which had been engaged in the importation of edible oil, of which 70 were still active when the ban was imposed.

Recently, the government decided to lift the ban which had been in place since 2011, preventing private companies from importing edible

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