MIDROC

MIDROC-Mohammed International Development Research and Organization Companies[1] is a company owned by Sheik Mohammed Hussein Al Amoudi. It has operations in Europe, the Middle East, and Africa.

MIDROC Ethiopia

MIDROC Ethiopia which was created in 1994. In 2011 it made 1.3bn birr (US$70m) of profits.[2]

MIRDOC has major gold mining interests in Ethiopia[3][4] and it is reported that MIDROC Gold Mine (a subsidiary of MIDROC Ethiopia) has paid the Ethiopian Government 100.1 million birr in royalties, the largest contribution of any mining company.[5] Midroc Gold is Ethiopia’s sole gold exporter. Its Lega Dembi mine has a yearly average production of around 4,500 kg of gold and silver.[6]

MIRDOC owns 70% of National Oil Ethiopia, which competes with YBF, TAF and five other companies in the national petrol market[7] and is establishing a major steel plant (Tossa) in Amhara. This latter is Ethiopia’s first industrial steel production plant and in intended to meet a major increase in domestic demand, estimated to rise from 1.2m tonnes to 3.1m tonnes per annum between 2011 and 2014.[8]

In August 2008, MIDROC opened a small cement factory on the outskirts of the town, which produces 4,000 quintals of cement per day. Some of the output of this factory will be used in the construction of the larger Derba Midroc Cement Factory, which will be located 70 kilometers north of Addis Ababa and is expected to be the largest cement factory in Ethiopia.[9] North Holdings Investment announced 17 October 2009 that it had completed a feasibility study for its own cement factory at Dejen, which would be built on 450 hectares of land. Construction of the factory will cost around US$1.6 billion, and once completed it would have a production capacity of nine million tons a year.[10]

MIDROC also built the Sheraton Addis hotel.

References

  1. ↑ http://www.midroc-ethiopia.com.et/
  2. ↑ 2Merkato.com Business Portal October 14, 2011
  3. ↑ Newsdire April 13, 2011
  4. ↑ Bloomberg Report November 12, 2010
  5. ↑ Addis Fortune August 8, 2011
  6. ↑ Addis Fortune October 23, 2011
  7. ↑ Addis Fortune December 27, 2010
  8. ↑ Addis Fortune October 30, 2011
  9. ↑ Wudineh Zenebe, "Ethiopia: Dejen Cement by Derba Midroc Hits Market", originally printed in Addis Fortune 12 August 2008. (accessed 14 August 2009)
  10. ↑ "Ethiopia: Company Finalizes Feasibility Study For Cement Factory", Somaliland Times, issue 403 (accessed 17 November 2009)
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