Thursday, 11 May 2023, Addis Ababa, Ethiopia (EEG): The Public Enterprises Holdings and Administrating Agency (PEHAA) says that the performance of EEG (Ethio-Engineering Group) in the past nine months were encouraging.
This is disclosed here today at an appraisal meeting held, in the presence of senior officials and management members, at its premises.
Speaking on the occasion, PEHAA GD (General Director), Habetamu HaileMichael, noted that the activities the group has undertaken so far in 2015 E.C were promising and encouraging. This means EEG is showing improvement owing to the efforts its board, management members and workers exerted, he said and went on to assure them that PEHAA’s support and follow up will continue in a more strengthened way.
The group has reportedly registered better performance out of its produces, post sell services, sell of unused properties, and other incomes when compared to its performance last year the same period.
When Five out of its nine industries have shown better performance , the rest are said to be lagging behind their targets due to various reasons .Even though , the group lacked foreign currencies for raw material inputs ,it has scored better results by utilizing its resources to the maximum .
EEG CEO( Chief executive officer ) , Ambassador Suleiman , on his par reiterated, recalling that his group has got huge potentials , that if EEG has to accomplish its mission fully , additional investments need to be injected towards it . To this end, all stake holders need to take active part in it, he made it clear.
According to him, EEG has solicited up to 1 million dollar foreign currency by tapping into alternative foreign currency techniques. Yet, it needs additional investments so as to launch, resume and make operational stucked projects.
Currently, it has nine subsidiary industries that have their own manufacturing facilities in different parts of the country. These are Akaki Basic Metal Industry, Metals Fabrication Industry, Construction Machinery Manufacturing Industry, Electronic Equipment Manufacturing Industry, Power Equipment Manufacturing Industry, Addis Machineries and Spare parts Manufacturing Industry, Adama Agricultural Machinery Manufacturing Industry, Ethiopia -Plastics Industry and Bishoftu Automotive Manufacturing Industry.
Following the reorganization of the Federal Government Executive organs, Public Enterprises Holding and Administration (the former Ministry of Public Enterprises) has been established in accordance with Article 32 (15) of the definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No.1097/2018.