Gulf General Investment Company, a Dubai based conglomerate whose net worth is about 3.7 billion dollars and M2K Business Services, a local company, are jointly planning to set up an aluminum extrusion plant at the outskirts of Addis Ababa.

The extrusion plant which is planned to be constructed at Sululta in the Finfinne Special Zone is estimated to cost 12 million dollars. M2K Business Services has already acquired 20,000 hectare land for the aluminum extrusion plant.

According to sources, the giant Dubai company with about 40 subsidiaries under it, is also considering other investment plans in Ethiopia.

Mr Moges Abebe MD of M2K said that the investment group was here to talk about constructing one hotel.

Mr Abebe said that the JV agreement establishing the aluminum extrusion plant will be signed by Middle East LLC one of the subsidiary companies of the investment group. The group has many other business deals with M2K have in the pipeline but it has chosen the extrusion plant to commence first.

(Sourced from www.2merkato.com)