Aarti Still Plc, an Indian company located at Gelan announced that it is investing USD 75 million to increase its production to 100,000 tons of steel per annum. The expansion will also enable steel makers in Ethiopia to use cold-rolled steel products. The company which holds 40 percent of share the local steel supply by producing round and square steel tubes, among other items, is expected to complete expansion projects in the next Ethiopian year.
Rajesh Verma, CEO of Aarti told the press on August 3 that the expansion will make their steel more accessible. Aarti Steel Plc inaugurated a one billion-birr factory in Ethiopia six years ago. Currently it has 1.7 billion birr capital and over 200 workers.
[capitalethiopia.com]