By Merga Yonas

Access Capital Service Share Company, a local investment group specializing in equity management and economic research, has started working on a car assembling plant deal with a Chinese brand, whose identity and other details are under wraps, sources told The Reporter.

Though Ermyas Amelga, founder and Chief Executive Officer (CEO) of the company, generally chooses to be reserved about the matter, he confirmed that plans are afoot and that details might be made public in a month at the latest.

Apart from the CEO, Winta Yohannes, Vice President - Investment, has also confirmed that the company is working around the clock on the car assembly venture, adding that other details will be kept confidential to protect the business deal until it is finalized.

“We have started the process but have not finished the setup yet; hence, we are not in the position to disclose further details right now,” said Winta.

The Ethiopian Investment Agency has also confirmed the company's plan but declined to disclose details on capital investment and the vehicle’s brand.

“The agency is not authorized to disclose investment profiles before a company commences operations,” Getahun Negash, corporate communication directorate director with the agency, told The Reporter.

Access Capital was established in 2006. If successful, it will become the sixty car assembly company in the country. Holland Car PLC, the pioneer in the assembly game in the county, was followed Lifan Motors, its former engine supplier, Marathon Motors, Athlete Haile Gebreselassie’s Hyundai assembly plant, Belay Ab enterprises and BT Trading.

EthiopianReporter