Rifeng, the global leading piping system supplier in China is ready to build the first aluminium pipe factory in Ethiopia by spending US$13.8 million. The company’s aim is to expand its business by tapping into the existing market in South Africa.
Till date, Ethopia, despite being a prime importer of aluminium pipes, has not involved in exportation activities. Its inability to build the industrial sector has robbed the economic stability and put pressure on the currency.
Rifeng Ethiopia and Rifeng China are now together looking forward to changing the trajectory of the narrative through their upcoming industrial sector. Their goal is not only to serve the local market but to turn Ethiopia into a global exporter of aluminium pipes to earn foreign exchange and strengthen the currency. This new industrial sector is expected to open doors for other markets and draws more investments into the country.
After all, Rifeng China boasts a positive reputation in the market as a global supplier of aluminium pipes. Thus, its entry into the fast growing economy of Ethiopia would likely accelerate the dominance of the investment hub in East Africa. The venture is expected to boost the employment for the citizens by tapping the availability of labour.
The company reported that it will put all its resource, knowledge and technology into use to produce high quality aluminium pipes for the industrial sector. The company also intends to contribute its commodities to the domestic water projects to save the government’s money which the latter would otherwise spend incurring from external suppliers.
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