Euro Cable PLC, a joint Ethio-Turkish venture, has announced commissioning of a new plant, located in Gelan, Oromia Regional State, that will triple its existing production capacity. Euro Cable PLC, according to a press statement by the company was the first private enterprise to start manufacturing electrical cables in Ethiopia. The company started with an initial investment of $5.5 million. The latest expansion will raise the value of its investment to $40 million. The company’s tax payment over the years is said to have crossed US$47 million. The company currently employs 200 people. It said that sufficient raw material availability has encouraged the company to increase production capacity with more diversified product lines and plans to break start exporting. The steady growth of the construction sector in Ethiopia had led to high demand for electric cable over the past years. To meet the rising demand country imports a huge quantity of electric cable. Elsewedy Cables Ethiopia of Egypt and Euro Cable are among the market leaders in cable manufacturing in Ethiopia.
