CGCOC Group Ltd., a Chinese construction firm, concluded a contract with Addis Ababa International Convention and Exhibition Center (AAICEC) for the construction of a center the latter is going to construct at an outlay of 1.1 billion USD. The construction is going to be for the first phase of center and the contract stipulates the scheduled period for completing the project is 36 months.

AAICEC intends to build the whole center in 2 phases with a total cost of 2.7 billion USD. The first phase is going to be construction of the center and shops. The second phase on the other hand is going to be construction of a conference center that can hold 5,000 people, a restaurant and a hotel.

It was 2 months back that AAICEC awarded the Chinese construction company the contract. CGCOC was chosen from 10 companies that were interested to construct the center.

CGCOC previously undertook the construction of Ethiopian Glass Factory and the Nile River Bridge project.

Source: Fortune