Atlas Development & Support Services Share News (ADSS)

(ShareCast News) - Atlas Development & Support Services announced on Monday it had begun ground-clearing at its Chancho Project in Ethiopia, a new facility which, once completed, would have the capacity to produce 105 million 330mL glass bottles per annum.The AIM-traded firm said an official groundbreaking ceremony was held last week, and attended by local dignitaries and members of the board.Atlas said levelling of the 5.5 acre site had begun, and the top soil was now stripped. The work was being conducted through the company's newly-formed industrial division, which was focused on consumer-based industrial projects in Africa."We are delighted to have broken ground at the Chancho Project, our state-of-the-art glass manufacturing facility neighbouring Addis Ababa," said Atlas chief executive Carl Esprey."The project has been an excellent acquisition for us, giving us a foothold in the burgeoning Ethiopian consumer market and positioning us at the forefront of advancements in the East African manufacturing sector," he added.The Chancho Project was located in an established industrial area, the company said, serviced by existing road infrastructure and power, 45km (28mi) north of Addis Ababa.It was also within trucking distance of the intended mine sitres for the materials needed to product high-quality bottles, namely silica sand, limestone, dolomite, feldspar and soda ash.An initial pre-feasibility study on the project had returned highly positive results, the company confirmed, with a full feasibility study now underway in tandem with local and international engineering consultants.Commissioning of the facility was scheduled for 2018, with full production targeted for 2019, Atlas said.