The Ministry of Trade and Industry (MoTI) passed a decision to provide scrap metals from various public organizations to metal and manufacturing industries at a lower price, The Reporter has learnt.
EKOS Steel Mill Plc, a Korean firm, called for the establishment of a center of excellence for advanced manufacturing and engineering that will undertake research on technology and investments related to production facilities, including refinery of crude oil.
Cement price doubled as traders charge twice the ceiling price set by the Ministry of Trade & Industry. A quintal of cement is now being traded between 530 and 550 birr in Addis Ababa, though the ceiling price for similar amount of the item is set at 290 birr.
Leather industries and Tanneries are shutting down their processing facilities due to foreign currency shortages, The Reporter learnt from the sector’s association which represents dozens of manufacturers.