By Eyasu Zekarias

Shirshir Addis Business Group has entered into a $1 billion deal with Sinoma International Engineering Company for the construction of three projects.

Reports revealed that the $1 billion deal with Sinoma International Engineering Company was set to expand the existing cement plant, build a food processing plant and a car assembly factory with different models.

The mega deal which was inked on October 10, 2023 at Sheraton by both parties saw Bereket Baysa, General Manager of the Shirshir Addis Business Group, disclosing that, “The strategic agreement with Sinoma Company will focus on 3 projects and which are geared to be completed in the next two years.”

The deal will expand; the Abyssinia Cement factory, which produces more than 1,500 tons per day at an area of 100,000 square meters, will also build a three-model car assembly plant and a packaged food processing plant.

Shirshir Addis Business Group is a company engaged in the export and import of coffee, pulses and oilseeds as well as cattle export, vehicles, food and food related items, clothing and textile products.

It was further stated during the agreement that the purpose of the partnership was to overcome the cement shortage in the country, to aid in the reduction of imported canned food as well as to assemble cars locally at a reasonable price.