Horizon Plantations, a subsidiary of MIDROC Ethiopia Group, has invested 800m Ethiopian Birr (approximately US$28m) in the construction of a flour and bakery plant in Ethiopia’s capital, Addis Ababa. Addis Ababa’s City Administration initiated the project. Mohammed Hussein Al Amoudi, as Chairperson of MIDROC Ethiopia, was highly supportive of the idea and committed to invest in it.
Planned to become operational within four to six months, the plant is expected to bake 80,000 loaves of bread an hour. 100g of bread is planned to retail at 75 cents, a significant cut from the current price of two Birr. The private public partnership project is intended to help alleviate the shortage of bread in the fast-growing city and stabilise its price.