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FINANCIAL NEWS
Saudi Al-Amoudi to invest USD3.4 b in Ethiopia
04 Dec 2013
(MENAFN) The biggest private investor in Ethiopia Saudi billionaire Mohammed Al-Amoudi has announced his plan for building another two cement factories in Ethiopia as investment environment grew significantly, according to Saudi Gazette.
Derba Group, an amalgam of three Ethiopian companies owned by Al-Amoudi, said it will invest USD3.4 billion in Ethiopia in 5 years.
Al-Amoudi said: “Africa”s opportunity lies in involvement of private sector working with stable and responsible government like Ethiopia.”
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