The Adama Steel Factory is a private company located in the Oromia region of Ethiopia. It was founded in 2011 with a total capital of 40 million Birr. The new factory was built with a cost of ETB 5.6 billion, making the factory’s entire capital worth over ETB 7.8 billion.
The expansion project enables the factory to boost its ferro, wires, and other metal products manufacturing. In 2011, the factory produced 30,000 tons of steel products per year. After its expansion, it’ll be able to make 1.2 million tons per year. The plant creates 9000 permanent & temporary jobs, with an additional 3000 after full functionality.
Adama Steel Factory started small and expanded to the point that it can now substitute imported items with local products, saving hard currency. The project highlights Ethiopian industries’ capacity to produce necessary construction inputs locally. By increasing homegrown production, Ethiopia will reduce its foreign currency expenses.
