Industry saves Ethiopia over a billion birr in foreign currency

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Addis Ababa, 21 August 2014 (WIC) - Hibret Manufacturing and Machine Building Industry disclosed in the just ended fiscal year it managed to save the nation 1.5 Billion Birr in foreign currency by producing machines here in Ethiopia.

Hibert is a sole machinery building in East Africa and claims to have finalized preparation work to export its products to Rwanda, Sudan and Djibouti.

In the just ended fiscal year, Hibret managed to produce a total of 1,000 machines of different sizes. Commenting on this Deputy Manager of Hibret, Captain Mesfin Seyoum, said the industry’s performance enabled Ethiopia to save over 1.5 Billion Birr in the noted period by substituting import machinery.

He furthered the 1,000 machinery produced are multipurpose, computerized and manually operated. They are also internationally recognized.

Among the products the industry manufactures some of them are spare parts for vehicles and aeroplanes as well as products that can be used for construction, manufacturing and industries.   

The deputy general also noted the capacity created in the engineering sector has enabled the country to produce various machines without difficulty.

Hibret is under the Ethiopian Metal Engineering Corporation. (ENA)