Zamil Signs Accord on $300 Million Products Supply to Ethiopia
April 12, 2011, 1:38 AM EDTBy Shaji Mathew
April 12 (Bloomberg) -- Zamil Industrial Investment Co., a maker of building materials in Saudi Arabia, signed an agreement with Ethiopia’s government-owned Metals & Engineering Corp. to supply products for development projects in the country. The value of the deal is $300 million and also includes Zamil providing project financing, the company said in a statement to the Saudi bourse today.
Gains from the projects will be reflected in Zamil’s financial statements from the third quarter of 2011, it said.
To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net
