National Oil Ethiopia PLC (NOC) contracted a procurement agreement with Addis Ababa City Roads Authority (AACRA) worth Birr 120 million on May 15, 2015, Addis Fortune reported.

The procurement agreement is to supply 7,000 tons of asphalt to the Authority, 159kg per barrel for road projects.

There were four competitive bidders for the tender, including Tola Hayu Business PLC, importer of road construction materials, WTY Construction PLC, and Oil Libya Ltd. Yet, NOC offered the winning amount, Birr 17,532 per ton. 90 days are given for NOC to make the supply.

Every year NOC supplies an average of 60,000 tons of asphalt importing from United Arab Emirates, for road projects undertaken in Ethiopia, Taddesse Tilahun chief executive officer (CEO) of NOC told Fortune.
NOC has also supplied 5,000 tons of asphalt for AACRA in the previous budget year.

NOC was established in April 2004 by Mohammed Hussein Ali Al-Amoudi (Sheik), Tadesse Tilahun and Abinet Gebremeskel. It has 140 service stations across Ethiopia.

Source: Addis Fortune