2merkato

The Bank of Abyssinia, Ethiopia signed a contract with Universal Consultants for the design and contract supervision of the construction of its headquarters building last week.

The bank has requested that the consultants make changes to the original design which won the architectural design competition held a year ago.

An agreement between the two parties was reached after long and exacting negotiations according to the President of Abyssinia.

The Addis Ababa City Roads Authority announced a budget of 2.6 billion birr to construct interchanges and roundabouts as  a part of the Light Railway Transit being launched in the Ethiopian capital. The budget for the roads development is expected to be covered by the federal government and the city administration according to sources.

The roads authority will select a contract for the construction of the interchanges and roundabouts once it confirms funding it was noted.

The authority plans to invite capable and experienced international contractors to handle what is expected to be a difficult project explained Engineer Fekade Haile, General Manager of the AACRA.

The Addis Ababa Urban Housing Development Agency is close to begin registration for the 90-10 housing project.

The agency offered training for data encoders to be assigned to the 116 Woreda in Addis Ababa to coordinate the registration period. It is expected that 12 encoders will be assigned to each Woreda to facilitate the registration process using Woreda net the network created for the process.

The city has upgraded the data capacity of its network system from its previous capacity of 512 MB to 2 GB in anticipation according to sources.

The city administration of Addis Ababa, Ethiopia has paid an estimated 586 million in compensation to residents forced to move due to ongoing redevelopment plans in just the past fiscal year said the Ethiopian capital.

470 million birr of the total was paid to citizens whose houses were demolished in the redevelopment with payments ranging from 51,875 birr to 6 million birr.

Four new projects have already been launched on 47 hectares with the former six other projects on 108 hectares in the works it was said.

Ethiopian company Addis Prefab Houses Manufacturing Industry won a 53.3 million US dollar contract from US based New Orleans Consultancy to construct 888 prefabricated houses in South Sudan.

The contract was signed in Addis Ababa between Yonas Tessema, General Manager of New Orleans Consultancy and Fikremariam Alemu, Chief Executive of Addis Prefab. The agreement between Addis Prefab and New Orleans was two months in the making.

Addis Prefab will receive the first half of the total payment upon submitting a pro forma invoice and will receive the difference upon delivery.