Metals and Engineering Corporation
{{Short description|Ethiopian arms and machinery industry}}
{{Use dmy dates|date=May 2023}}
{{more citations needed|date=December 2016}}
{{Infobox company
| name = Metals and Engineering Corporation
| logo = Metec_Corporation.png
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| native_name = ብረታ ብረትና ኢንጂነሪንግ ኮርፖሬሽን
| type = State-owned enterprise
| location =
| industry = {{hlist|Defence|machinery|automotive| aviation}}
| founded = {{start date and age|2010}}{{cite web|url=http://addisfortune.net/columns/metal-engineering-corporation-metec|title=Metal & Engineering Corporation|publisher=Addis Fortune}}
| founder =
| hq_location_city = Addis Ababa
| hq_location_country = Ethiopia
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| area_served = Africa and Middle East
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| products = {{hlist|Ammunition|firearms|artillery|agricultural machinery|cars|aircraft}}
| services =
| revenue = 1.2 billion dollar
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| assets = 2.13 billion dollar
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| owner = Ethiopian government
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| divisions =
| subsid = Hibret Manufacturing and Machine Building Industry
Homicho Ammunition Engineering Complex
Gafat Armament Engineering Complex
Bishoftu Automotive Engineering Industry
Dejen Aviation Engineering Industry
| homepage = [http://www.metec.gov.et www.metec.gov.et]
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}}
METEC (acronym for Metals and Engineering Corporation) is an Ethiopian arms and machinery industry founded in 2010.{{Cite news|url=https://www.bloomberg.com/news/articles/2013-02-18/ethiopian-military-run-corporation-seeks-more-foreign-partners|title = Ethiopian Military-Run Company Seeks More Foreign Partners|newspaper = Bloomberg.com|date = 18 February 2013}} It is the state largest military industrial complex, responsible for the production of military equipment and civilian products. METEC works with foreign companies such as Alstom from France, and Spire Corporation from America.
Controversy
=Grand Ethiopian Renaissance Dam=
METEC was once responsible for constructing the $4 billion Grand Ethiopian Renaissance Dam project on the River Nile, expected to be Africa's biggest hydroelectric project, but was ousted from the contract in August 2018.{{Cite web|url=https://qz.com/africa/1461676/ethiopias-security-chiefs-arrested-after-attack-on-abiy-ahmed/|title = Ethiopia says its security heads ordered an attack of the country's new prime minister| date=13 November 2018 }} Kinfe Dagnew, a Brigadier General in Ethiopia's army and former chief executive of METEC plays a significant role in the organization. The company was assigned development of Grand Ethiopian Renaissance Dam and sugar factory,{{cite news |author=Yohanes Jemaneh |title=Omo Kuraz I Sugar Factory On Final Test-Run |url=http://allafrica.com/stories/201612140935.html |access-date=27 May 2023 |work=allAfrica |agency=The Ethiopian Herald |date=14 December 2016}} (subscription required) as well as the Jinka Sugar Bag factory.{{Cite web|url=http://www.2merkato.com/news/alerts/4864-ethiopia-jinka-bag-factory-commenced-test-run|title = Ethiopia: Jinka Bag Factory Commenced Test Run}} On 12 November 2018, all assigned project canceled due to fail to complete, and government arrested Kinfe Dagnew, CEO of METEC, after a trial to escape through Sudan, where he was captured by Defence force. Kinfe Dagnew arrived in helicopter to Addis Ababa.{{Cite web|url=http://www.ebc.et/web/news-en/-/police-arrests-former-metec-director-general-m-general-kinfe-dagnew|title=Police arrests former METEC Director General M/General Kinfe Dagnew - display page - ebc|website=www.ebc.et|language=en-US|access-date=2018-11-15|archive-date=2018-11-15|archive-url=https://web.archive.org/web/20181115181950/http://www.ebc.et/web/news-en/-/police-arrests-former-metec-director-general-m-general-kinfe-dagnew|url-status=dead}} Many METEC officials were prosecuted for corruption on the project.{{cite news |url=https://www.aa.com.tr/en/energy/general/french-company-to-supply-turbines-for-nile-hydro-dam/22922 |title=French company to supply turbines for Nile hydro-dam |website=Anadolu Agency |date=2 January 2019 |access-date=27 October 2020}}
=Tax evasion=
In April 2018, Kinfe Dagnew resigned the company after serving for eight years, when Prime Minister Abiy Ahmed became head of the ruling party Ethiopian People's Revolutionary Democratic Front. The company remained unknown when it was operated by TPLF. In June, parliamentary committee found that METEC squandered hundreds of machinery products worth 326.4 million dollars without study of the market.
Sources say that the Commercial Bank of Ethiopia squandered 2.8 million dollars without completion of sugar projects, and revealed the company borrowed 436 million dollars.
=Kinfe Dagnew arrest=
On 12 November 2018, the chief executive officer, Kinfe Dagnew was arrested by the Ethiopian National Defense Force after attempting to escape through the Sudan border. He was found with an empty briefcase believed to be illegally transporting goods. Shortly after hours, an Ethiopian Air Force helicopter dispatched from Debrezeit airbase brought Kinfe Dagnew to Addis Ababa. 40 of the company's officials were detained after they called for meeting in Imperial Hotel, Gerji, Addis Ababa.
Some newspapers quoted that they were transferred to Addis Ababa Police Commission; then temporarily jailed by Federal Police.{{Cite web|url=https://ethsat.com/2018/11/ethiopia-over-40-officials-of-corruption-riddled-metec-members-of-intelligence-under-arrest/|title=Ethiopia: Over 40 officials of corruption riddled METEC, members of intelligence under arrest – The Ethiopian Satellite Television and Radio (ESAT)|website=ethsat.com|language=en-CA|access-date=2018-11-16}}
References
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