Zamil Signs Accord to Supply $300 Million of Building Products to Ethiopia

Zamil Industrial Investment Co. (ZIIC), 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.

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