Yetebaberut Beherawi Petroleum S.C. (YBP) is set to build a 12 storey building which will serve as its headquarter. The building is going to lay on 400 Square Meters behind YBP’s service station site at CMC and expected to cost 50 Million Birr.

The land on which the building is going to constructed on a portion of a land YBP leased from the Addis Ababa City Administration seven years ago. Upon completion the building is going to be a mixed use building which will obviously incorporate headquarter of the company. According to Tesfaye Mekonen, General Manger of YBP, the will be open for rent to other commercial centers, cafes, restaurants and supermarkets.

YBP put the corner stone for the new building on Thursday, December 25, 2014 in the presence of Alemayehu Tegene, Minister for Water, Irrigation and Energy.

Tesfaye explained the details of the building are still under design and expected to be finalized in three months time. The time frame set by YPB for the completion of the building is two years from now.

Commenting on the occasion Alemayehu said, “As sugar manufacturing companies are expanding, the accessibly of ethanol increases. So Yetebaberut should have its own blending facility.’’

Yetebaberut was established a decade ago between 21 shareholders with a subscribed 21 Million Birr capital and a paid up capital of 2.25 Million Birr. This figure has gone up to 135 Million Birr of paid up capital.

Source: Fortune