Support for capacity expansion project in Ethiopia
Ethiopian glass container manufacturer Addis Ababa Glass and Bottle Share Co is seeking to triple manufacturing capacity from 80 tons/day to 240 tons/day by 2022. The total project is estimated at $40 million, with the IFC considering providing total financing of $25 million alongside an East African private equity firm specialising in growth, buyout and recapitalisation of medium-sized companies, who is considering an equity investment in the business.
As part of the diligence process, the private equity player approached UK-based Glass Technology Services to provide an assessment of the project and offer technical advice about the company and project. In developing the proposal, the consultancy team reviewed existing production facilities and the proposal for the additional 160 tons/day production lines. Following initial audit and due diligence, they assisted Addis Glass to refine the proposal and strengthen its ability to secure financing.
Addis Glass is among the industry’s leading players to utilise electric melting technology, benefiting from Ethiopia’s competitive electricity prices. The project is now at the design and implementation stage and Glass Technology Services will continue to support Addis Glass throughout the process.
