|« Ethiopia Is Using Radiation to Eradicate Tsetse Flies||Ethiopian Airlines becomes first airline with 787 scheduled service to Canada »|
China's Geely Cars May Be Manufactured in Ethiopia by 2017
By William Davison
Nov. 13 (Bloomberg) -- Ethiopia’s Mesfin Industrial Engineering Plc, a company linked to the ruling party, expects to build cars for China’s Geely Automobile Holdings Ltd. within five years, General Manager Habte Hadish said.
Mesfin Engineering, which is based in Mekele, 504 kilometers (313 miles) north of the capital, Addis Ababa, is now assembling six cars a day for Geely and wants to move into full production, he said. “Cars will be manufactured in Ethiopia,” Habte said in an interview in Addis Ababa today. “This can happen in the coming three to five years.”
Mesfin Engineering is part of the Endowment Fund for Rehabilitation of Tigray led by Azeb Mesfin, the widow of former Prime Minister Meles Zenawi. Effort, as the conglomerate is known, has interests in construction, cement, trucking and textiles. The Tigray People’s Liberation Front, led by Meles until his death in August, established the company in 1995 by amalgamating assets it acquired during a 17-year insurgency.
The TPLF is one of four parties in the ruling Ethiopian Peoples’ Revolutionary Democratic Front that has led the government since overthrowing Mengistu Hailemariam’s military regime in 1991. Mesfin Engineering’s revenue grew about 19 percent to 620 million birr ($34 million) in the year to July 7, Habte said. The company has forecast 1 billion birr in sales this fiscal year, he said.
The company designed and produced around 400 truck trailers last year and has the capacity to build more than 2,000 a year, Habte said. It also assembles tractors for International Tractors Ltd., part of the Hoshiarpur, India-based Sonalika Group and India’s third-largest maker of the farm vehicles.
Mesfin Engineering has built leather, textile and coal-fired power plants for Effort companies and a government fuel depot, he said. It has signed contracts with the Industry Ministry to help build a garment factory near the capital and with the state-owned Sugar Corp. for a 100-million birr “tissue culture” nursery in the South Omo region primarily to produce plants for cane plantations.
The company expects its business from state enterprises to increase as the government has many large projects and wants to “enhance the local capability” in engineering, Habte said.
Ethiopia, the continent’s second-most populous country, plans to spend 144 billion birr in the current fiscal year on industries including transport, telecommunications, sugar, energy and housing in the third year of a five-year industrialization plan.
The government, which recorded a trade deficit of $7.5 billion last year, operates a state-led development model that targets public and private investment in value-adding areas such as manufacturing and engineering in order to diversify an economy dominated by agricultural commodities.
As always the toxic diaspora are going to miss the big picture and cry about MIE. But for me, it is a good start. And I would like to see more. Big companies like Honda and Toyota’s assembly.
Another propoganda to distract Ethiopians on not YET tangible things. China’s Geely cars “maybe” manufactured in Ethiopia. Is out right lie. There are many Chinese laboreres in China willing to do this, that is why China is developed because it used its mass populations as laborers to grow their economy. As result many have transfered from low to middle class. it is a big plus. Since the death of Meles, perhaps now is the West is more controlling Ethiopia therefore, no more China and development. Rather, it is loan and debt via IMF and World Bank. This article is to mislead Ethiopians that China is still working with Ethiopia, I doubt it. I doubt if there is negotiations. Let me hope my guess is incorrect. As more political turmoil is planned, by posting “good” things about Ethiopia which is false, they want to divert attention of Ethiopians. Nazret.com, I hope you are not playing the game of TPLF by misleading Ethiopians. Do you do a thorough investigation on articles before you post? “Maybe” doesn’t sound to me it is a credible news.
Another headache for toxic opposition groups.
“The company designed and produced around 400 truck trailers last year and has the capacity to build more than 2,000 a year.”
Is that a big deal to produce around 400 truck trailers per year?
WOW ! Ethiopia First.
There is also another news American Boieng plan to move it’s seattle plant to Addis Ababa. Idiots in the Diaspora “Erere Belu !”
Get down of your horses. Stop jamming the airwaves with your nonsense. No one hate progress. But the quesiton here is why the Tigray Edowment Fund is every where and in every business?Bidding on every government contract?
If Azeb and Co bid on a contract, would you think the average joe will win the bid over these thugs?
Where is the fairness here?I doubt if the fund is used for its intended purposes. which is to help the people of Tigray.
The is a classic example of Kelptocracy.
What a JOKE .They are anouncing such a stupid information as if they are producing Limousine cars .They said
the fake “Mesfin Engeneering ” .A proper place to produce such a thing of bad qualities .The other joke ,even in China peoples do not buy such kind of cars .What next maybe Tata cars produced in Mekelle
….LOL !!!!!Hey Gebru if your source information is Mr Pig Ben you
really have the good one …LOL !!!
Apple shall transfer its Silicon Valley Research Center in Mekelle because thay have found out that Mekelle University has advanced IT Technologies…LOL !!!And Monsato shall open his World Wide Seed production center in Tigrai invited by Azeb Mesfin to feed Tigrai Peoples…LOL !!!
Who is Mesfin? Is he Azeb’s father?
“Ethiopia’s Mesfin Industrial Engineering Plc, a company linked to the ruling party”
Is Mesfin Industrial not part of EFFORT? Is it the ruling party (EPRDF) linked company?
If it not linked to EPRDF but to EFFORT, then China or any foreign company need to be careful having anything including business relation with this the worst ever criminal company against Ethiopia caused so many crimes including in day lights and public blatantly for 21 years. EFFORT is a TPLF Criminal business cartel/monopoly functioning beyond the nation rules and regulations that are too strict and hard against other Ethiopian businesses and companies but too friendly towards EFFORT. It is Like EFFORT itself has written Business rules and regulation in Ethiopia where everything good has to be for EFFORT and bad against the rest of Ethiopian people.
EFFORT didn’t pay custom revenues and income taxes for many years especially during the first 10-15 years. In the 1990s till the Eritrean war (1998), it used Matsawa and Assab ports for import and export without paying anything to the Ethiopian revenue. It also uses Sudan port for import and export without check and balance for the benefit of Ethiopia.
Because of it is importing without import custom tax, it is selling import products with low price with high turnover while those paying import and income tax became unable to compete and as a result bankrupted. Because of it is getting favor contracts and market places and is not paying income taxes as it should be, it is also affecting other companies with domestic products and markets. EFFORT never be audited by professional and independent Auditor but cover up by TPLF that is controlling Ethiopia for 21 years.
As long as EDDORT activities from the beginning including its start capital is not investigated and audited, EFFORT remains like the West Indian company of this Time in Ethiopia.
China or any foreign company having/looking to have anything to do with EFFORT is just seeking problems among the Ethiopian people. If China wants a stable and long term relationship with Ethiopia, she must not have any deal with EFFORT which is a TPLF private criminal company milking, looting, using and damaging Ethiopia for the last 21 years.
EFFORT must be Nationalized as it was created from the start with capital came from Ethiopia and all its business activities were illegal and affected Ethiopians. The profit EFFORT is getting are not real profits but stealing Ethiopians in legal ways. In other words, EFFORT has to be the Ethiopian people company.
From eritrean embassy
Why are you so interested on Ethiopian affairs?
SEATLE THE SILTIE
Your brother in merkato is messing with his stinky mouth chewing his chat tells you to write your garbage on his behafe
Gudfela aka teddi essayass afeworki
Good news always is distructing you i dont now from what???
Some of you calling diaspora this diaspora that, please think twise before you insult everyone because of these few idiot Eritreans.
Our country should whatever it takes to get out of poverty. It doesnt matter whoever it is to invest and create jobs for the poor.
How liar you are, dude!! The distance between Makalle and AddisAbaba is not 504 km. it is nearly 700 km instead. Also you seem to have been paid and shout for the disarrayed toxic diaspora enemies of my country Ethiopia. you are the satans’ messenger, mr Davison.
One Day Ethiopia will Rise!
We are on the journey, little by little….
If you don’t like it, you don’t like Ethiopia, I don’t have comment on this, as it is sickness it is your problem.
The Tigray People’s Liberation Front, led by Meles until his death in August, established the company in 1995 by amalgamating assets it acquired during a 17-year insurgency”
——————————-well you have to give it to tplf/eprdf, for they do not only organized and fought to bring down one of the largest army and defeat it, but they were also economist and business men in their own capacity to create a multibillion birr company that is the engine of ethiopias economy which has been showing some lives and growing steadily for the last 5-10 years, this one might add while increasing ethiopias basic infrastracture by many folds. no matter how much one down plays it is not common in ethiopia or in africa for that matter to use resources for building a car manufacturing industry or a cement factory or many of the industries as they did, it usually ends up in few people pockets at swiss bank..yes you hate them or love them you have to admire them!
As an Ethiopian saying goes..’Doron siyataliluat bemechagna taluat’ Is EFFORT the only company in Ethiopia? Why is it bidding for every contract and winning all? It is simple. The Ethiopian gov’t is controlled by TPLF leaders and these same people are also the leaders of EFFORT.So apparently there is a conflict of interest here. Therefore EFFORT had been winning and is likely to win all future lucrative contracts from the gov’t.There is no Ethiopiawinet in them but only Tigrawinet.
If these thugs believe they will get away with EFFORT they are simply fooling themselves. People know EFFORT’s assets and capitals from its inception belong to the mass,Ethiopian public, not of Tigray or TPLF. Only time will tell.Motenalla!!!! Let it profit and expand. It won’t go anywhere.It will surely become National company by hook or crook.GOD BLESS ETHIOPIA AND HER PEOPLE!!!
What cheap and crap lies after lies you are vomiting here? Do you think Ethiopians don’t know the truth about TPLF from its creation (by Shabia) all its actions/ and nature including EFFORT? Everyone knows about woyane more than woyane knows itself.
Everyone knows who were the TPLF and their financial status before they took power by force and holding the nation under their ownership to do anything they want including creating EFFORT with Ethiopian people money and using markets no one could compete with them but scrambling on the leftovers after woynes got the lion shares.
So, no matter what you little woyane cadres are saying, the truth is there and not only the Ethiopian people but also Shabia(your master) and the world know what kind position woyane had during 17 years war against Ethiopia. TPLF was so poor unable even to feed itself. It was financed by the outsiders (Ethiopian enemies) to fight for them thinking they were fighting communism in Ethiopia during the time the world was divided with east and west/cold war. Today is a very different world.
So, you cann’t behave the way you do for the last many years using Little bold meles as a cover. He is dead following the people he killed them with plenty but with no reason at all except he being woyane and the rest were not.
“Mesfin Industrial Engineering Plc, a company linked to the ruling party”
This is a clear misleading case.
“Mesfin” is the name of a Male person in Ethiopia. Mesfin Industrial means an industry owned by Mesfin.
So how come a private owned company became linked with the ruling party?
Who is the ruling party in Ethiopia today especially after Meles’s very much welcomed death?
Who is Mesfin as a person who got an Industrial name after his name?
«_ethiopian airlines_» adoption agriculture airline airlines athletics aviation business caf china crime diaspora drought dv economy ecx energy eritrea «ethiopian airlines» famine fashion football health hydroelectric ict immigration investment islam it manufacturing media «meles zenawi» migration mobile muslim nile