Tadash Steel Manufacturing Industry opens a steel mill built with ETB 5.8 billion on 50,000 square meters of land in Dukem, Oromia. The steel mill has an iron melting capacity of 450 tons and a daily production capacity of 600 steel bars. The facility aims to employ 700 people and reduce foreign currency spent on Ethiopia’s iron and steel imports. Ethiopia’s steel industry is at a low developmental stage even though the country has enough iron ore, coal, and limestone resources to produce iron and steel locally. The manufacturing industry is rising with companies like Tadash, Adama Steel Factory, RAVAL Steel Manufacturing PLC, and POSCO, a South Korean steel manufacturer.
POSCO, a South Korean steel manufacturer, to replace metal & metal products imports. POSCO will aid in iron mining, provide technical support, transfer skills, & develop human capital. The Adama Steel Factory is a private company in the Oromia region of Ethiopia that creates 9000 permanent & temporary jobs, with an additional 3000 & makes 1.2 million tons of steel products after full functionality. RAVAL Steel Manufacturing is the largest steel factory in the Amhara region. These companies are increasing homegrown production and creating jobs for people all over Ethiopia.