METEC To Be Reorganized With New Name

METEC To Be Reorganized With New Name

Addis Ababa, October 15, 2018 (FBC) –The Ethiopian government owned industrial enterprise, Metals and Engineering Corporation (METEC), is going to be reorganized with a new name.

The Corporation was established by the Council of Ministers with a view to advancing Ethiopia’s industrialization drive.

However, it has been a target of blame for lack of capacity, wastefulness and delays of mega projects such as the new sugar factories and Grand Ethiopian Renaissance Dam (GERD).

Later, the government revoked the contracts awarded to the Corporation for the construction of sugar the factories and hydro mechanical works of the dam.

Billions of Ethiopian birr were wasted due to failure of the Corporation to complete the projects as per scheduled.

Because of the company’s poor performance, the new administration of Prime Minister Dr Abiy Ahmed has been taking different measures starting from making leadership change within the Corporation.

Abdulaziz Mohammed, Commercial and Civil Products Operation Deputy Director at the Corporation, told FBC today that the reform targets putting right the structure of the Corporation.

He said industries that have been manufacturing military equipment under the auspices of METEC will be transferred to the Ministry of Defense. The rest will remain under the Corporation.

Accordingly, METEC will only manufacture civil and commercial products with a new name. It was planned to be branded as the National Metal Engineering Corporation, he said.

A draft regulation has been prepared to reorganize the Corporation with a new name and it will be applied once approved by the Council of Ministers, he said.

Metals and Engineering Corporation (METEC) has 14 industries under it and as per the new draft regulation, it will transfer four of them to the Ministry of Defense.

The four industries are Homicho Ammunition Engineering Industry, Dejen Aviation Industry, Gafat Armament Engineering Industry, and Hi-tech Engineering Industry