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Ethiopia East Cement Project Complete Start-Up

On oct. 1st,2009, at 10:00 AM, the lamp columns stood high and the red flags were flickering in the wind at the building site of locale about Ethiopia East Cement Project, East Africa Plateau effulgent sunshine watching each Chinese excited faces. Meeting the celebration of China 60 Years’ Birthday festival, Ethiopia East Cement Share Company sent the best regards grandly and saluted to Mother China in generous&noble starting-working ceremony. 
Ethiopia East Cement Project has passed nearly three years in complete market research and financing operation and has built a broad and close cooperation relationship among each governmental levels wherever Ethiopia or China. The Ethiopia Construction Ministry attached such a high importance to the project construction progress to regard it which would relieve and solve Ethiopia domestic cement supply shortage as the key project to be pledged so well promising market prospect.
 
 
In Dec., 2008, after performing the completely full market survey and project evaluation, China-Africa Development Fund signed formally with four original shareholders such as JiangSu Qiyuan Group etc. and held 40% shares in constructing Ethiopia East Cement project, which has become the first investment project initiated by private enterprise that China-Africa Development Fund joined the shares and whose total investment capital was USD$51080000 and meanwhile Phase I design capacity reaching to yearly yields of 500000 mt dried cement. The project design and construction, the project supervision management and the equipment installation were finally that China-Metallurgy Shijiu would undertake the civil work engineering after the letter of acceptance, that Maanshan Maishiji would undertake project supervision and management after the letter of acceptance , and that Nanjing Xipu would undertake the general plot plan and equipment installation after the letter of acceptance, through the scientific and strict tendering & bidding procedures.
 
Based on the plan schedule, it would take less than 14 months for Ethiopia East Cement Project to complete installing, testing and commissioning of the whole civil work engineering and equipment, and it’s estimated to make production operation formally at the beginning of 2010.
 
Mr Lu qiyuan, Mr Lu qizhong and China-Metallurgy Shijiu and Maanshan Maishij senior executives attended the start-up ceremony.
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