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An industrial facility for the production of steel is known as a steel mill or steelworks. It could be a fully integrated steel plant that performs every stage of the steelmaking process, from smelting iron ore to rolling the finished product, but it could also be a facility that produces steel semi-finished casting goods from molten pig iron or from scrap.
The Ethiopia steel market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
Raval Steel Manufacturing PLC is constructing a new steel factory in Ethiopia’s Bahir Dar City, Amhara Region. The factor has currently produced 500 permanent jobs, and it is anticipated that it will hire 500 more while utilising an additional 20,000 temporary workers.
The largest steel factory in the Amhara Region is RAVAL Steel Manufacturing. The factory is anticipated to save the nation a significant sum on steel imports.
One of Ethiopia’s major iron ore reserves is in the Amhara Region. As of now, no company has begun iron-ore mining in the nation. Even though Ethiopia has a dozen or so steel plants, the majority of them import raw materials and utilise imported scrap iron to produce various steel products.
Addis Ethiopia, In Oromia State’s Dukem town, a steel mill has been constructed. The steel mill can melt 450 tonnes of iron ore per day and manufacture 600 tonnes of steel per day when it is fully operational. It was discovered that the factory would provide 700 residents with work and would help with the scarcity of foreign currency.
Additionally, it will increase Ethiopia’s industrial and construction industry’s capability and demonstrate how the government is fostering greater participation from the private sector.
